Refund of unutilised ITC for Work Contractor

ABC firm is in business of Work Contract. It has inward supply @ 5%, 12%, 18% and 28% and outward supply @ 12%. Every month it has surplus GST Credit due to lower tax on outward supply. Can the firm claim Refund of unutilised ITC under Inverted duty structure?

Asked on December 21, 2018 in Miscellaneous.
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1 Answer(s)

Yes refund can be claimed in case where accumulation of unutilized ITC is there due to higher tax rate on inputs than the output supplies (other than zero-rated/exempted goods).

Answered on February 21, 2019.
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Gen GST