Claim of ITC Lying Electronic credit ledger

[V Rajalakshmi]

An Export unit had accumulated ITC credit un- utilised in the electronic credit ledger and during the year the exporter moved his business unit to SEZ. Any possibility to claim the un- utilised credit from department.

[KASTURI SETHI]

Refund is admissible.

[Shilpi Jain]

Yes. If exports done under lut then unutilised credit refund eligible. More facts would be required to see if anything else possible.

[Shilpi Jain]

Was it a change in PAN like sale of business or the like?

AI Summary

Unutilised Input Tax Credit refund available when exporter shifts operations to SEZ under LUT, subject to verification. Claim whether an exporter who moved operations to a Special Economic Zone may claim refund of unutilised Input Tax Credit in the electronic credit ledger. Refunds are generally admissible for unutilised credit and are available for exports under a Letter of Undertaking, subject to verification, documentation and factual conditions such as continuity of PAN and the nature of the business transfer.