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Eligibility of an Exporter for Input Tax Credit or liability to pay Higher Drawback or liability to repay the refund amount in case of Export of Goods against Higher Drawback in the period July to September 2017

This article tries to analyse eligibility of an exporter for Input Tax Credit in case of Export of Goods against Higher Drawback in the period July to September 2017. Whether He is eligible for ITC of CGST/IGST during the entire period of July to September 2017, orHe is not eligible for any ITC of CGST/IGST during the entire period of July to September 2017, orHe...

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Whether exempted supply of MEIS License merits entire Input Tax Credit of Raw Material and Input Services to be treated as common credit for reversal under Rule 42/43

The article intends to cover the subject of reversal of Input Tax Credit on MEIS License Sale wherein in certain cases revenue is treating the entire Input Tax Credit claimed by the taxable person as Common Credit under Rule 42. That as for providing the background, MEIS is a government scheme launched with the objective to provide rewards to exporters to offset infrastructural inefficiencies and...

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