Q.30 Since our products are under 0% and we are using various services like telephone, professional charges for which we will be paying GST to our registered service providers and this amount will not be utilized towards any payment of outward goods. Are we eligible for refund on the services obtained and GSTN paid for the same? If yes what is the procedure? If no what is the accounting effect?
Ans You are not eligible for refund of unutilized Input Tax Credit as there is no tax on output supply. Tax paid on such services may be accounted along with the services availed i.e. booked as expenses.
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