I am an exporter of services filing quarterly return. As on 1.4.2022, I have Rs. 200000 in ITC ledger on portal which was ineligible and it was reversed in GSTR-3B Q4 of 2022-23. During the Q4, I also claimed eligible ITC of Rs. 50,000, but due to the reversal of Rs. 200,000/- my net ITC became negative of Rs. 150,000/- in GSTR-3B. Can I claim GST refund of eligible Rs. 50,000/- through RFD-01 for Q4?

Your Input Tax Credit which was ineligible and availed should have been lying in your balance of Electronic Credit Ledger. If it is not, then you have utilized the same towards your output liability and thus, you are required to pay Rs. 200,000 to the government. However, if it is not utilized, you can use the balance to pay the reversal made by you in GSTR 3B in set off option and your availed Input Tax Credit of Rs. 50,000 shall now stand to the credit in your Electronic credit ledger. In such case, you can claim refund of your Rs. 50,000 eligible credit.