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Clarification on refund related issues - GST - 181/13/2022

Extract

..... section 54 of CGST Act, 2017, which provides for the refund of unutilized input tax credit in cases where credit is accumulated on account of rate of tax of inputs being higher than the rate of tax on output supplies i.e. on account of inverted duty structure. Sub-rule (5) of rule 89 of CGST Rules, 2017 prescribes the formula for grant of refund in cases of inverted duty structure. Vide Notification No. 14/2022-Central Tax dated 05.07.2022, amendment has been made in the formula prescribed unde .....

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Clarification on refund related issues - GST

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..... of refund of unutilised input tax credit on account of inverted duty structure, as amended vide Notification No. 14/2022-Central Tax dated 05.07.2022, will apply only to the refund applications filed on or after 05.07.2022, or whether the same will also apply in respect of the refund applications filed before 05.07.2022 and pending with the proper officer as on 05.07.2022? Vide Notification No. 14/2022-Central Tax dated 05.07.2022, amendment has been made in sub-rule (5) of rule 89 of CGST Rules .....

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Clarification on refund related issues - GST

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..... apply only to the refund applications filed on or after 18.07.2022 or whether the same will be applicable only to refunds pertaining to prospective tax periods? Vide Notification No. 09/2022-Central Tax (Rate) dated 13.07.2022, under the powers conferred by clause (ii) of the first proviso to sub-section (3) of section 54 of the CGST Act, 2017, certain goods falling under chapter 15 and 27 have been specified in respect of which no refund of unutilised input tax credit shall be allowed, where t .....

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Clarification on refund related issues - GST

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  1. 09/2022 - Dated: 13-7-2022 - Supplies of goods in respect of which no refund of unutilised input tax credit shall be allowed under section 54(3) - Seeks to amend Notification No. 5/2017-Central Tax (Rate), dated the 28th June, 2017
  2. 14/2022 - Dated: 5-7-2022 - Central Goods and Services Tax (Amendment) Rules, 2022