TaxTMI 
TaxTMI 
Refund of accumulated ITC
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....efund of accumulated ITC<br> Query (Issue) Started By: - Kaustubh Karandikar Dated:- 8-11-2019 Last Reply Date:- 11-11-2019 Goods and Services Tax - GST<br>Got 3 Replies<br>GST<br>XYZ importing goods against 'Advance Authorization'. They had also fulfilled export obligation against the same by exporting the goods without payment of GST under LUT. They are now filing refund claim of accumulated ITC....
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.... on account of continuous exports. Can they consider the value of exports made for fulfilment of export obligation against advance authorization, while claiming refund of accumulated ITC? Reply By Rajagopalan Ranganathan: The Reply: Sir, For claiming the accumulated credit due to continuous export there is no question of verifying value of exported goods. Only thing required you have to produce....
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.... the proof export and bank realization certificate. Reply By KASTURI SETHI: The Reply: Q. Can they consider the value of exports made for fulfilment of export obligation against advance authorization, while claiming refund of accumulated ITC? Sir, Answer is NO. Disallowed by the department against such export.. Reply By Adarsh Sharma: The Reply: XYZ had imported under AA and Exported under LU....
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....T and intended to claim the refund under Rule 89, XYZ can consider the value of Export for Refund under Rule 89 on which is also considered as value of export for the purpose of DGFT (fulfillment of AA obligation) If XYZ is imported under AA he can not Export under Rule 96 (on payment of IGST), there is a restriction to claim the refund under Rule 96 (10) In my view XYZ can claim accumulated ITC....
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.... as refund under Rule 89.<br> Discussion Forum - Knowledge Sharing ....