1. No need of CA certificate
2. No. It is Net ITC
3. Yes
Refund of Input tax in case of export under LUT
Query 1. Do I need CA certificate for claiming Input tax refund in case of Export of Goods/Services without payment of IGST mainly under LUT scheme. As per rule only for sub clause e below mentioned CA certificate is required: -to the effect that the incidence of tax, interest or any other amount claimed as refund has not been passed on to any other person, in a case where the amount of refund exceeds Rs.2 Lakhs Query 2 Maximum limit of claim is Amount lying in Electronic Ledger Less Credit on Capital Goods less previous period unutilised credit as electronic ledger balance is cumulative one- Is this statement correct. query 3. Do I claim Input Credit on Capital Goods for unit registered under MSME category Thanks in advance....
Asked 5 years ago in GST
Hi
1. If you're claiming refund of accumulated ITC on account of zero rated supplies, CA certificate shall not be required.
2. Refund application is filed for a specific period. So you can only avail refund of ITC availed in that period only. If capital goods gave been used exclusively for zero rated supplies, you would have availed the ITC and refund shall be provided.
3. There is no restriction as far as MSME is concerned. ITC shall be eligible provided other conditions are satisfied.
We may discuss the issues further.
No certificate for refund of export under section 54.
Refund is claimed for a specific period so you need to claim refund of ITC lying during that period in the ledger.
Yes you can.
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Thank you
Hello,
1. No, there is no requirement for CA Certificate.
2. The Refund is applied for a specific period, ITC lying in the credit ledger during that period would be available as a refund. Refund of ITC on capital goods used for making zero rated supplies would be available.
3. Yes.
I hope this answer satisfies your requirements.
Regards,
CA Hunny Badlani
Dear Sir,
Hope you are doing well !!
1. No need of CA certificate.
2.Refund application is filed for a specific period. So you need to claim refund of ITC lying during that period in the ledger.
3. No.
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