— — (| { | ards ABI HTIFA Office Of The Assistant Commissioner ear deg wa Saat Asa-VI AST NATION Central Goods and Services Tax Division-VI, Noida Soupodiosraa, $-5, HaCT-1, ATSI- 201301 GST Bhavan, E-5, Sector-1, Noida-201301 No, 20-CGST/R-29/DivWI/ Refund /Veersa/32/2023 Dated Order-in Original No.S't/R/AC/CGST/Div VI/N/2022-23 dated 2 Applicant: M/s VEERSA TECHNOLOGIES INDIA PRIVATE LIMITED (GSTIN O9AAHCV7304A1ZJ), Eighth Floor, Nukleus IT Tower, Sector 142, Noida. Gautam buddha Nagar, Uttar Pradesh-201301 (hereinafter referred to as ‘the party) ARN: AA091023041926A dated 10-10-2023 Period: Aug, 2022 to July, 2023 Amount of refund claimed: Rs 33,60,595/- Ground for claim: Exports of Goods/Services - w/o payment of Tax (Accumulated ITC) SCN No.: ZL09111230257482 dtd. 21.11.2023 Brief facts & verification report: - A refund application has been filed by party as detailed above. In this regard, the verification report submitted by the jurisdictional Range Officer is as under:~ 1, The party has submitted all required documents/declarations as required under Circular No. 125/44/2019-GST dated 18-11-2019 2. The Limitation of time has been checked in terms of provisions of Section 54 read with Notification No. 13/2022 dated 05.07.2022 and found within limitation of time. 3. The Party is engaged in the business of Information technology (IT) consulting and support services, engineering advisory services, licensing services for the right to use computer software and databases etc with hsn 998313, 998331, 997331 ete in its registration 4, Physical verification of the party was conducted on 11.09.2023 and detailed report has been submitted on GST portal 5. The party filed refund claim of Rs 33,60,595/- (CGST- 13,77,299/+SGST- 13,77,299/-+IGST-6,05,997) on account of exports of Goods/services w/o payment of Tax (Accumulated ITC) for the period Aug, 2022 to July, 2023. The amount of refund claimed has been debited by the party vide entry no D10910230024187 dated 10-10-2023 in the electronic credit ledger. 6. During the relevant tax period, as per GSTR 3B/GSTR-1, zero rated turnover amounts to Rs 26,32,73,177/- and domestic supplies amounts to Rs. 17,84.120 Hence, adjusted total turnover is Rs. 26,50,57,29710, aa 12. The FIRCs submitted by the party against export of goods during the relevant period for export amounts to Rs. 26,19,73,017/-. Hence, the Zero rated turnover is Rs. 26,19,73,017/- The Net ITC as per GSTR 2B for relevant period is Rs. 41,22,629.07/-. The party has applied for refund of Rs. 33,60,595. The net ITC admissible to the party for relevant period upon deduction of inputs on capital goods is Rs. 32,87,492/ Therefore, net ITC now comes out to be Rs. 32,87,492/-. The ITC claimed by party on capital goods amounting Rs. 73,103/- in Annexure B has been duly deducted while calculating Net ITC. The refund claim is not barred under proviso 2 (Export duty) & Proviso 3 (Drawback} of Section 54(3) of the CGST Act 2017. The admissibility of refund as per Rule 89(4): Refund applied: Rs 33,60,595/- Turnover of domestic supply: Rs 17,84,120/- Zero rate supply as per GSTR1/3! Rs 26,32,73,177/- Adjusted total turnover: Rs 26,50,57,297/- Total Foreign Inward Remittance: Rs 26,19,73,017/- Zero rated turnover: Rs 26,19,73,017/- Net ITC available: Rs 32,87,492/- Max. Refund Allowed = (Zero rated Turnover * Net ITC available) /Adjusted total turnover = Rs. 32,49,238/- The maximum refund as per formula is Rs. 32,49,238/- (C-13,54,248/- + S. 13,54,248 + I-5,40,742/-). As such, a refund of Rs 32,49,238/- 1s recommended for sanction, SCN dated 21-11-2023 was issued to the party as per Rule 89 of CGST Rules 2017 regarding excess refund claim of Rs. 1,11,297/-. The party vide its reply dated 24- 11-2023 has agreed with the SCN and requested to process the refund application. ‘The party has filed returns up to October, 2023. No confirmed demand is pending against the party, as per this office records. Discussion & Findings: 13. 14, 15. I have carefully gone through the RFD-O1, documents uploaded by the M/s VEERSA TECHNOLOGIES INDIA PRIVATE LIMITED (GSTIN-O9AAHCV7304A 12J) the verification report submitted by the jurisdictional Range Officer and documents available on records. I find that the party has filed refund claim of Rs 33,60,595/- under cat Exports of Goods/Services - w/o payment of Tax (Accumulated ITC) for the period November, 2021 in terms of provisions of Section 54(3) read with Rule 89 of the CGST Rules, 2017 and no previous refund claim has been filed by the party for the ‘same period. I find that the refund claim is within limitation of time as prescribed under section 54 of the CGST Act, 2017 and as per notification no 13/2022-Central Tax Dated Sth July, 2022,16, I find that the party has uploaded all mandatory documents/ declarations #8 required under Circular No 125/44/2019 and have filed their due returns upto November, 2023. 17. I find that the party has debited the claimed amount vide debit entry fe 10910230024 187 dated 10-10-2023. The refund claim is not barred under proviso 2 (Export duty) & Proviso 3 (Drawback) of Section 54(3) of the CGST Act 2017. 18. I find that ITC of Rs 73,103/- is inadmissible as per rules made under CGST Act 2017 regarding refund. 3 against the SCN no 19, 1 find that the party vide its reply dated 21.11.202 d has requested ZL09111230257482 dated 24.11.2023 agreed with the findings an to proceed with the refund application as per extant rules: 20. 1 find that the turnover of Zero Rated Supply as per GSTR 1/3B for the per iod August, 2022 to July, 2023 is Rs 26,32,73,177/- and domestic supplies amoun’® to Re, 17,84,120/., The adjusted total turnover comes to Rs. 26,50,57,297/ otal Foreign Inward Remittance for the period is Rs. 26,19,73,017. therefore Zere rte d ver ig Re 26,19,73,017/-. The net ITC admissible to the party upon deduction 32,87,492/. Therefore, net ITC now comes out to turno of inputs on capital goods is Rs. be Rs. 32,87,492/- 21, Accordingly, I find that the maximum refund admissible to the party in terms of Rule 89 of CGST Rules 2017 is as under: Refund applied: Rs 33,60,595/- Turnover of domestic supply: Rs 17,84,120/- Zero rate supply as per GSTR1/3B: Rs 26,32,73,177/- Adjusted total turnover: Rs 26,50,57,297/- ‘Total Foreign Inward Remittance: Rs 26,19,73,017/- Zero rated turnover: Rs 26,19,73,017/- Net ITC available: Rs 32,87,492/- Max. Refund Allowed = (Turnover of zero rate supply “Net ITC available)/ Adjusted Total turnover = Rs. 32,49,238/- 22, Accordingly, I pass the following order: ORDER |, hereby sanction refund of Rs 32,49,238/- (CGST- 13,54,248/- + SGST 13,54,248/- + IGST- 5,40,742) and reject refund of Rs 1,11,3: (CGST- 23,051 + INDIA PRIVATE T Act 2017. SGST- 23,051/- + IGST- 65,255) to M/s VEERSA TECHNOLOGIES LIMITED (GSTIN-O9AAHCV7304A 1Z,) in terms of Section 54(3) of the CG: pet ydove bun Aras ye (ABHISHEK BHUSHAN) ! ASSISTANT COMMISSIONER CGST DIVISION-VI, NOIDA