Where there are multiple
inputs attracting different rates of tax, in the formula provided in rule 89(5) of the
CGST Rules, the term „Net ITC‟ covers the ITC availed on all inputs in the relevant
period, irrespective of their rate of tax.
Introduction In order to facilitate a smooth flow of GST refund filing and claims process, the Central Board of Indirect Taxes and Customs (‘CBIC’) has strived to implement a hassle-free refund process at every stage. In line with this objective, the GST Council, in its 31st meeting held on 22 December 2018 has rationalised and introduced several taxpayer friendly measures in the GST refund filing and claims process. In addition, several clarifications on procedural aspects of refund claims, jurisdiction, inverted duty structure, compensation claims, Input Tax Credits etc. have been issued which would bring in practical clarity on the process
Exports are eligible for a GST refund. Any GST registered person who meets the requirements can request for a GST refund within the specified timeframes.
Want to talk to us
Leave your Name, email, Phone number along with what you are looking for in message box or you can call us at 011-41715118
Keep up to date — get updates with latest topics. Signup for our newsletter today.
We serve on FDI advisory, cross-border accounting, International tax planning and Management consulting needs of our overseas clients all over the world.
Corporate Office: 601, 6th Floor, GMIT Park, Sector 142, Noida Exp Way, Noida – 201305
Registered Office: 44, Backary Portion, 2nd Floor, Regal Building, New Delhi 110001
Landline: 0120-4415477-78
info@vjmglobal.com
+91 9891576441, 9213397070, 9911887030
Mon – Fri: 09:00am – 06:00pm
Closed on Weekends
V J M & Associates LLP