Refund of accumulated ITC

1. A statement containing the number and date of shipping bills or bills

of export and the number and the date of the relevant export invoices, in a case where the refund is on account of export of goods;

A statement containing the number and date of invoices and the relevant Bank Realisation Certificates or Foreign Inward Remittance Certificates, as the case may be, in a case where the refund is on account of the export of services.

2.Form GST RFD-01.

3. Yes.

Yes, all can be done online.

Hi,

The refund application has to be electronically submitted in Form RFD 01 within 2 years from relevant date. The refund application form must be certified by a Chartered Accountant / Cost Accountant, if the amount of refund exceeds Rs 2 lakhs.

Documents Required

The below is the list of standard documents to be filed along with refund claim by applicants making a claim:

For each claim, the primary document that has to be submitted is a statement of relevant invoices relating to the claim.

If the refund is made on account of export of services, not including the statement of invoices, the relevant bank realisation certificates verifying receipt of payment in overseas currency should also be furnished.

Yes, all can be filed online.

Yes it can be filed online

Hi,

Refund of unutilized input tax credit can be claimed in the following two cases under GST:

1. Unutilized input tax credit on zero-rated goods/services on which no payment of tax was made can be claimed as refund.

2. Accumulation of unutilized ITC due to higher tax rate on inputs than the output supplies (other than zero-rated/exempted goods)

Your case falls in point 1. Hence, you can claim refund of ITC

You need tofile form RFF 01 online and along with that you need to submit invoice copies from your vendor on which GST is charged, copies of your return, export invoices and FIRC

Since you are an exporter you can claim refund of ITC credit just by mentioning the details of import in table 6A of GSTR 1 i.e. shipping bill details and other things and as per my research you will get 90% refund on provisional basis within 7 days but you need to file all the returns within time i.e. GSTR 3b and all returns.

You don't need to go to GST office you can do all things online.

Hope you find the information helpful if you do please rate it 5 and provide your valuable feedback for my improvement.

Thank you

Unutilized input tax credit can be claimed as refund.

Hi,

- To claim refund of accumulated ITC, you need to go to services/Refunds in your online account on GST portal.

- Select option "Refund of ITC on Export of Goods & Services without Payment of Tax" and the relevant period.

- You need to upload Import Invoices online, FIRC and GSTR-1 and 3B. Compile them in separate files.

Thanks

1. You need to maintain RCM invoice rasied by you, your gst returns, proof of apyment of GST etc.

2. RFD-01

3. Yes, you can upload the required information online. Other information, you can keep with you.

Hi

Yes it be applied online