EXCESS ITC REFUND CLAIMED

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... We have taken refund of Unutlised ITC (Zero Rated) (Direct Export) in the month of April-2018. While calculating ITC claim by oversight we have claimed excess of ₹ 878219/- and same has been allowed by GST department after keeping 10% amount to be sanctioned later. Now when we apply for 10% refund we have noticed that we have claimed excess amount. Whether department is charged interest o .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... n the same since they have issued refund against our ITC. If we paid amount whether department will release our ITC so we can avail ITC against our Domestic supply. - Reply By Mahadev R - The Reply = In total, if there is any excess refund claimed, then pay it back through DRC-03 . Interest may be demanded from date of sanction of refund till date of payment. It is better to bring it to notice .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... of department at the earliest so that there would be no penalty demanded. - Reply By Ganeshan Kalyani - The Reply = I agree with Sri Mahadev Ji, on the point that upfront intimation of such fact need to be reported to the authority. - Reply By DR.MARIAPPAN GOVINDARAJAN - The Reply = Better you may inform the department and pay the excess amount of refund got by you. - Reply By KASTURI SETH .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... I - The Reply = I agree with the views of the experts. - Reply By Nandan Khambete - The Reply = Excess ITC of ₹ 8,78,219 is claimed or excess refund of ₹ 8,78,219/- is claimed ? If ₹ 8,78,219 is excess refund claimed, how much out of if is actually received in 90% refund sanctioned and received ? Whether Refund is filed in April 2018 or for April 2018 ? If later , wh .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... en have you filed refund and when have you received RFD 02 and RFD 04 ? - EXCESS ITC REFUND CLAIMED - Query Started By: - SURYAKANT MITHBAVKAR Dated:- 24-12-2019 Goods and Services Tax - GST - Got 5 Replies - GST - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTM .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... I - TMITax .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X