How to avail Input Credit

[Pinnacle PvtLtd]

Sir:

We are a BPO company having international clients. I mean we export our services and get billed in $. We have taken GST registration but not taken LUT since 2017. Currently we are having 50 lakhs as input credit which were accumulated since April 2019 till date.. I need your valuable suggestion regarding refunding of GST input credit..

Thanks,

Srinivasa

AI Summary

BPO Firm Seeks GST Refund Without LUT Since 2017; Advised to Apply for Waiver and Check Electronic Credit Ledger A BPO company with international clients seeks advice on obtaining a refund for accumulated GST input credit amounting to 50 lakhs since April 2019, despite not having filed a Letter of Undertaking (LUT) since 2017. Respondents advise that the absence of an LUT should not prevent a refund if export services have been provided and foreign exchange received. They suggest applying for a waiver of the LUT requirement for past periods and refer to a circular allowing for the condonation of LUT delays. The company is advised to ensure the input tax credit is available in the Electronic Credit Ledger.