REFUND OF ITC -

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....EFUND OF ITC -<br> Query (Issue) Started By: - SAFETAB LIFESCIENCE Dated:- 23-10-2019 Last Reply Date:- 23-10-2019 Goods and Services Tax - GST<br>Got 1 Reply<br>GST<br>Dear Experts, We are going to ....

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....submit application for refund of ITC accumulated due to inverted duty structure. We are not exporters and we are not having zero/nil rated outward supply. In computation of of maximum refund to be cl....

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....aimed (statement-1), the net input tax credit, we should exclude ITC on input service and ITC on capital goods (or) we can exclude only ITC on input services alone. We understand from 26.09.2019, refu....

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....nd rules have been amended. Net input tax credit (4) (&#8377;) Edit the Net ITC to exclude, the ITC availed on input services and the ITC of refund claimed under Rule 89 (4A) and/ or (4B) In the ap....

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....plication, it shows like this above. Whether, we can include ITC taken on Capital Goods or Not ??? Reply By KASTURI SETHI: The Reply: See Rule 89(5) of CGST Rules, 2017 inserted vide Notification N....

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....o.26/18-CT dated 13.6.18 effective retrospectively i.e. from 1.7.17. Capital Goods are to be excluded.<br> Discussion Forum - Knowledge Sharing ....