As per Section 54(3) of the CGST Act, 2017, a registered person may claim a refund of unutilized input tax credit on account of Inverted Duty Structure (Rate of tax on Inputs > Rate of tax on Outputs & Output services) at the end of any tax period. A tax period is a period for which return is required to be furnished. Thus, a taxpayer can claim the refund of unutilized ITC on monthly basis.
