- What is the revised methodology for profiting the refund of GST input credit?
The method for claiming the Input Tax Credit Refund has been as now amended. On the off chance that an exporter having a GST registration makes an exempted or a zero-rated supply, he is required to pursue the changed procedure for benefiting Refund of collected Input Tax Credit.
- The application for the refund of unutilized input tax credit on the input products or administrations while making such zero-rated supplies will be recorded in the FORM GST RFD-01A on the GST portal.
- The sum guaranteed for refund will be charged from the electronic credit ledger of the taxpayer having GST registration to the degree of the ITC claimed.
- The regular portal (i.e. GST portal) will show a proof of debt (i.e. ARN) which would be given in the refund FORM GST RFD-01A.
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