Dear experts,
One of my client is in the business of solar power plant. They are procuring raw materials such as solar panel, solar cell, structure etc. from vendors and assembles on project site. After completing solar power plant, they sold it to their customers as it is.
Raw materials was purchased at 18/28%, however, sale of power plant at 5% earlier and currently 12%. Can we take refund of unutilised itc accumulated on account of inverted duty structure?
Further, such ITC accumulated during the year 17-18 & 18-19. Can we file gst refund now for the said period anyhow?
Thankyou
Solar Power Business Misses GST Refund Due to Expired Filing Period; Future Claims for 2023-24 Confirmed Eligible A client involved in the solar power plant business inquired about claiming a GST refund due to an inverted duty structure, where raw materials were taxed at higher rates (18/28%) compared to the final product sale (5% earlier, now 12%). The client accumulated unutilized input tax credit (ITC) during 2017-2019 and sought advice on filing for a refund. An expert responded that refunds are eligible under the inverted duty structure, but the filing period is limited to two years from the due date of GSTR-3B, which has expired for those years. Another inquiry confirmed eligibility for refunds for 2023-24. (AI Summary)
TaxTMI 
TaxTMI 
