Exporter: ITC refund under LUT
Sample: Tanmay Leather Crafts, Agra. Exports under LUT. July to September 2026.
₹3,60,000 ITC refund due
Exports go out without IGST, so input credit piles up. Rule 89(4) gives it back in proportion to exports.
RFD-01July to September 2026
| Amount | |
|---|---|
| Exports under LUT (zero rated) | ₹40,00,000 |
| Sales in India | ₹10,00,000 |
| Adjusted total turnover | ₹50,00,000 |
| Net ITC for the quarter | ₹4,50,000 |
| Refund: exports x net ITC / adjusted total turnover | ₹3,60,000 |
Refund to claim in RFD-01₹3,60,000
- File within 2 years from the end of the quarter.
- Shipping bills or export invoices and the bank's realisation proof go with the claim.