GST ITC Refund

Exporters of goods or services (including deemed exports), businesses with an inverted tax structure where input tax rate exceeds output tax rate, and taxpayers who have made zero-rated supplies can apply for ITC refund. The refund is for unutilized ITC accumulated in the electronic credit ledger.

A refund claim can be filed at any time within two years from the relevant due date or from the date of payment of tax. For exporters, the relevant date is the date of export or the date of payment of tax for zero-rated supplies.

Once the refund application is complete, the proper officer must pass the refund sanction order within 60 days. After sanction, the refund is credited within 7-15 working days. However, delays can occur if there are discrepancies or additional scrutiny.

There is no maximum limit on the refund amount. The refund is limited to the unutilized ITC available in the electronic credit ledger, computed as per the prescribed formula considering the ratio of export turnover to total turnover.

You need the export invoice and shipping bill (for exporters), purchase invoices supporting ITC claims, GSTR-1 and GSTR-3B for the relevant period, bank statement showing receipt of export proceeds, FORM RFD-01, and a self-declaration of non-availment of drawback.

GST ITC refund is a claim for refund of accumulated Input Tax Credit in the electronic credit ledger. This typically arises when a taxpayer exports goods/services (zero-rated supplies) or has an inverted tax structure where input tax rate exceeds output tax rate.

Our professional fee for GST ITC refund starts from ₹4,500, depending on the complexity and number of invoices involved. This includes refund computation, document preparation, filing of FORM GST RFD-01, and follow-up with the department for sanction.

Exporters of goods or services (including deemed exports), businesses with inverted tax structure where input GST rate is higher than output GST rate, and taxpayers making zero-rated supplies are eligible to claim ITC refund. The refund is for unutilized ITC.

Once the refund application is complete and filed, the proper officer must pass a sanction order within 60 days. After sanction, the refund amount is credited to your bank account within 7-15 working days. Total process typically takes 2-3 months.

Yes, you can file ITC refund yourself through FORM RFD-01 on the GST portal. However, the process involves complex computations, specific documentation, and follow-up with the department. Professional assistance ensures accuracy and faster processing.