REFUND OF ITC

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....EFUND OF ITC<br> Query (Issue) Started By: - unni kv Dated:- 16-11-2017 Last Reply Date:- 17-11-2017 Goods and Services Tax - GST<br>Got 6 Replies<br>GST<br>Sir, We are the exporter without payment of duty (against LUT). We are availing draw back with lower rate against each export shipment. Now my question is since our local sales volume is very low, the output tax liability is limited and as a ....

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....result ITC is accumulated in the Electronic Credit Ledger. We were filed GSTR 3B till October 2017 alongwith making payment of ITC on RCM also. My question is whether we can claim for refund of credit balances lying in Electronic Credit Ledger in view of claiming drawback with lower rate (i.e 1 to 2%) through RFD-1A ? regards Reply By KASTURI SETHI: The Reply: If your ITC is accumulated becaus....

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....e of export and you are unable to use, you can claim refund. Reply By KASTURI SETHI: The Reply: Drawback claim is not hurdle in this refund claim. Reply By SHIVKUMAR SHARMA: The Reply: Please refer Section 54(3) of CGST 2017. Reply By CS SANJAY MALHOTRA: The Reply: Please refer to Para No 2.4 Circular No 17-GST dated 15 November 2017. http://www.cbec.gov.in/resources//htdocs-cbec/gst/Circu....

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....lar%20No.%2017-GST.pdf Reply By Ramaswamy S: The Reply: When the exports is more compared to domestic sales, it is advisable to opt for export on payment of IGST and claim refund of IGST which is faster and simpler when compared to the refund of the input ITC. Regards S.Ramaswamy Reply By Ganeshan Kalyani: The Reply: The circular gives detailed information on claiming refund on zero rated sa....

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....les. I agree with the opinion given by Sri Ramaswamy Sir that it is better to pay IGST on export and claim refund.<br> Discussion Forum - Knowledge Sharing ....