Refund on account of ITC accumulated due to Inverted Tax Structure : GSTN enables new Facility

Refund on account of ITC accumulated due to Inverted Tax Structure : GSTN enables new Facility The term Inverted Tax Structure refers to a s

CA Deepak Gupta

Mar 16, 2019

Last update on Mar 16, 2019

Refund on account of ITC accumulated due to Inverted Tax Structure : GSTN enables new Facility

The term Inverted Tax Structure refers to a situation where the rate of tax on inputs is more than the rate of tax on output supplies. As a result, the higher tax paid on inputs gets accumulated in the Electronic Credit Ledger of the taxpayer. The taxpayer can claim the refund of ITC accumulated on account of Inverted Tax structure by filing the refund application form RFD-01A.

You can file for refund of IGST / CGST / SGST on account of ITC accumulated due to Inverted Tax Structure, if you have filed Form GSTR1 and GSTR-3B of the relevant tax period, for which refund is to be claimed.

Refund on account of ITC accumulated due to Inverted Tax Structure : GSTN enables New Facility

GST Refund on account of ITC accumulated due to Inverted Tax Structure : FAQ

Step by Step procedure of applying for GST Refund on account of ITC accumulated due to Inverted Tax Structure

About Author

CA Deepak Gupta

Co Founder

CA Deepak Gupta,is Co-founder of Studycafe. He is Microsoft Office Specialist and Corporate Trainer of AI Tools, Microsoft Excel. He is Finance Influencer having more than 250K followers on Social Media. CA Deepak Gupta, is Having more than 14 plus years of experience, and he has Worked with best brands Like, Hero, Wipro, Ericsson before Starting Studycafe. He has Trained more than 20000 Persons in Microsoft Excel, PowerPoint, Power BI, Google Sheet, Google Forms and Other Tools.