TaxTMI 
TaxTMI 
Refund on zero rated supply
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....efund on zero rated supply<br> Query (Issue) Started By: - Sudhir Kumar Dated:- 15-9-2021 Last Reply Date:- 17-9-2021 Goods and Services Tax - GST<br>Got 4 Replies<br>GST<br>I have received input for making final goods to export. On such inputs I have paid IGST worth of Rs, 50 lacs approx. The gross invoice value of inputs are more than 4 crore Rs. After preparing final goods, I have issued an In....
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....voice of such goods for export. The outward supply invoice value is approx 2.12 Crore.After completing all the procedures for export ane exportation of goods, I filled RFD-1 to the department claiming refund of ₹ 50 lacs as I paid IGST on inward supply. Department's view is, because the amount if ITC is not reflecting in ledger they are unable to process the refund, further they also sa....
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....id that the amount of refund claim is higher than the the invoice value of exported goods. Please guide what we have to do further and what are the procedures for filing a refund in case of zero rated supply. Reply By Shilpi Jain: The Reply: The ₹ 50L paid should be taken as credit in your returns to be able to get refund. However, there is no requirement that the refund can be claimed o....
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....nly to the extent of the goods manufactured and sold. No such correlation is required in the law. The formula in rule 89 does not require this. Reply By Ganeshan Kalyani: The Reply: The invoices must be reflecting in GSTR 2A report. Ask your supplier to upload the tax invoice details in their GSTR 1. Reply By Rajagopalan Ranganathan: The Reply: Sir, According to you, the value of export goods....
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.... is 2.12 crores. The refund claimed by you is 50 lakhs. Then how the department can say that the refund claimed is higher than the invoice value of exported goods. Please clarify. Reply By KASTURI SETHI: The Reply: Yes, the query needs clarification as pointed out by Sh.Ranganathan, Sir. Further, verbal view has no value. Get in writing from the Department.<br> Discussion Forum - Knowledge Sh....
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