REFUND OF ITC ON ACCOUNT OF INVERTED DUTY STRUCTURE

IN CASE OF MINING INDUSTRIES (QUARRY BUSINESS), GST IS PAID ON RCM BASIS ON ROYALTY PAID TO GOVERNMENT FOR EXTRACTING MINERALS AT 18% AND AFTER PAYMENT ITC IS ALSO AVAILED IN GST RETURN. WHEREAS ALL SALES IS AT 5% LEADING TO ACCUMULATION OF ITC. Q1 - HOW TO CLAIM REFUND OF SUCH ACCUMULATED ITC MAINLY DUE TO RCM PAYMENT OF ROYALTY Q2 - WILL SUCH ITC AVAILED ON ROYALTY CLASSIFIED AS ITC ON INPUT SERVICE Q3 - THE SUPREME COURT HAS RECENTLY DISMISSED THE GUJARAT HC JUDGEMENT IN CASE OF VKC FOOTSTEPS INDIA -  WHAT IS THE POSITION NOW. Q4…

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