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.

AI Summary

Export Unit Can Claim Unutilized ITC Refund After Relocating to SEZ if Exports Done Under LUT An export unit accumulated unutilized Input Tax Credit (ITC) in its electronic credit ledger and later relocated to a Special Economic Zone (SEZ). The query raised was whether the unutilized credit could be claimed from the department. Responses indicated that a refund is admissible, particularly if exports were conducted under a Letter of Undertaking (LUT). Additional details, such as whether there was a change in the Permanent Account Number (PAN) due to a business sale, might influence the eligibility for claiming the refund.