GST Refund on Excess ITC

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Satish asked 4 years ago

Hi Sir/Madam
I want to know that about GST Refund on Excess ITC
Suppose a person get some service imported every month in india for furtherance of business of (Taxable value Rs.4,00,000).In this case he have to pay GST on reverse charge basis(GST@18%=72,000 every month) and get his input claimed.
Now he is a Exporting service without tax. The input remains in the Credit ledger every month accumulated in year around (₹8,64,000).
So can he get his excess itc refunded in inverted tax structure.

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Question Tags: GST Refund, GST Refund on Excess ITC

3 Answers

1 Vote Up Vote Down

CA Nikhil M Jhanwar answered 4 years ago

You can claim refund of ITC under Export of services category. ITC refund cannot be claimed under Inverted Duty category

Satish replied 4 years ago

Hi Nikhil,
Thanks, a lot

1 Vote Up Vote Down

CA Nikhil M Jhanwar answered 4 years ago

You can claim refund of ITC under Export of services category. ITC refund cannot be claimed under Inverted Duty category

Satish replied 4 years ago

Hi Nikhil,
Thanks, a lot

1 Vote Up Vote Down

CA Nikhil M Jhanwar answered 4 years ago

You can claim refund of ITC under Export of services category. ITC refund cannot be claimed under Inverted Duty category

Satish replied 4 years ago

Hi Nikhil,
Thanks, a lot

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