Erroneously refund claimed on capital goods, Goods and Services Tax - GST

[suresh sathyamurthy]

While claiming refund on account of export erroneously refund has been claimed on capital input for the period 2017-18,

now during the GST audit error is been found

The company decided to refund the erroneous claim

After repaying the erroneous claim, can the company utilize capital input credit now for its future GST obligation.

If there is restriction in claiming the capital credit now , is it only on account of time bar or any other restriction, kindly clarify

Posts / Replies

[Himansu Sekhar]

Have you got the refund? The gst audit is by the deptt. Or your internal audit?

[KASTURI SETHI]

Query-wise reply is as under: 1. Yes. The company can re-take credit after re-paying the amount of refund to the Govt. 2. There is no restriction. The re-credit is not hit by time bar limit as the date of taking credit originally/initially will be the relevant date in this case.

[suresh sathyamurthy]

Thanks for the reply