https://www.taxtmi.com/forum/issue?id=112404 Refund of unutilised input tax credit is available where credit accumulates due to an inverted duty structure or zero rated supplies/exports; otherwise accumulated credit is not refundable and effectively increases production cost. The electronic credit ledger may be used to adjust available ITC against other output tax liabilities of the same GSTIN without strict one to one correlation, but refunds are confined to specified grounds and may lapse in certain supply valuation scenarios. en-us Fri, 21 Jul 2017 11:46:34 +0530 Thu, 23 Jan 2025 15:55:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=112404 Refund of unutilised input tax credit is available where credit accumulates due to an inverted duty structure or zero rated supplies/exports; otherwise accumulated credit is not refundable and effectively increases production cost. The electronic credit ledger may be used to adjust available ITC against other output tax liabilities of the same GSTIN without strict one to one correlation, but refunds are confined to specified grounds and may lapse in certain supply valuation scenarios. Discussion-Forum GST Fri, 21 Jul 2017 11:46:34 +0530 https://www.taxtmi.com/forum/issue?id=112404