Goods and Services Tax

REFUND OF IGST PAID AGAINST IMPORT OF CAPITAL GOODS

Goods and Services Tax – Started By: – RICHA RICHA – Dated:- 14-8-2018 Last Replied Date:- 20-9-2018 – SirWe had business for Dyeing & Printing of Textile fabric, now we planning to purchase Digital Printing Machine from Italy, Pls reply below points:1. Can we refund IGST Paid on imported capital goods.2. Is there any different cases for IGST Refund like- A.) Inverted Duty Structure or, B.)Zero -Rated Supplies made without payment of tax.3. In case of Jobwork – refund applicability?4.In case of Fabric Sale – refund applicability? – Reply By ANITA BHADRA – The Reply = You are planning to Import Capital Goods which will be used for your business in India .Refund of IGST paid on Imported Goods can not be claimed. You can take ITC on Capit

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Central Government hereby makes the amendment in the notification no. 05/2017-CT(Rate) dated 28.06.2017 via Notification No. 20/2018-CT (rate) dated 26.07.2018 wherein the proviso related to the refund of accumulated ITC on fabrics has been inserted and relevant extract of the aforesaid notification has been provided as under:- Provided that,- (i) nothing contained in this notification shall apply to the input tax credit accumulated on supplies received on or after the 1st day of August, 2018, in respect of goods mentioned at serial numbers 1, 2, 3, 4, 5, 6, 6A, 6B, 6C and 7 of the Table below; and (ii) in respect of said goods, the accumulated input tax credit lying un-utilised in balance, after payment of tax for and upto the month of Ju

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