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Abhishek Kumar Singh

BEING01*A11 • 23d

Trying to wind up a GST account but have some amount in the electronic credit ledger, can I cash it out anyhow ?

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IncorpX

Your partner from St... • 23d

Hey Abhishek, If you're planning to close your GST registration and there's a balance in your Electronic Credit Ledger (ITC), please note that this amount cannot be directly withdrawn in cash, as it’s meant only for adjusting GST liabilities. However, you may be eligible for a refund under certain conditions, such as 1. Exports without payment of tax (under LUT) 2. Inverted duty structure (higher input GST than output GST) 3. Cancellation of GST registration, provided there is no outstanding liability In such cases, you can file Form GST RFD-01 after submitting your Final Return (GSTR-10), and the eligible refund will be credited to your bank account upon approval. Please feel free to dm us for more info Warm regards, Team IncorpX www.incorpx.co.in

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