Meaning of Input Tax

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..... Meaning of Input Tax
Query (Issue) Started By: - Ethirajan Parthasarathy Dated:- 4-1-2020 Last Reply Date:- 4-1-2020 Goods and Services Tax - GST
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GST
A registered person pays .....

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..... RCM tax on some transaction, which as per law he is not required to pay. Whether such payment will fit into definition of "INPUT TAX" as per section 2(62) of CGST Act which treats any "TAX PAYABLE" un .....

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..... der section 9(3) or 9(4) as input tax. In this case what is "not payable" is paid. If it is not input tax, then dealer cannot take ITC. In such situation whether such tax is refundable? Reply By KAST .....

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..... URI SETHI: The Reply: Yes. Such paid tax is refundable. Also see Section 54 (8)(e) of CGST ACT, 2017 which is as follows:. (e) the tax and interest, if any, or any other amount paid by the appl .....

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..... icant, if he had not passed on the incidence of such tax and interest to any other person; or You can claim refund under the category of "any other amount". Tax which is not leviable and ha .....

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..... s been paid is beyond constitution and hence refundable under, "any other amount". The department cannot deny.
Discussion Forum - Knowledge Sharing .....

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