Question7:

Refer to Notification No. 55/2017 Central Tax dated 15-11-2017 (Para 2 (vii) ) which prescribes certain changes in the CGST 2017 Rules for claiming refund . We are manufacturing Textiles Articles. The rate of GST  on Inputs is 18% and  output Tax is 12% . Our product is under HSN 5402 – i.e. Polyester Filament YARN. Apart of Polyester Yarn , we are also manufacturer of Cotton / manmade  fabrics’  falling under HSN 5208,5407,5515,6001 & 5907 .We request you to kindly confirm , we are eligible for refund of accumulated ITC credit due to inverted rated supply of GST ? If Yes , What is the time limit for filing such refund claim

Answer:

Refund of tax against export and refund of unutilised credit are two different things If you are exporting textile product you can claim refund of tax This point is also clarified through circular no 18 dated 16 November already sent with daily mail dated 17Nov 2017 (Reply dt. 20/11/2017)