The Central Board of Indirect Customs and Taxes (CBIC) issued a notification regarding the Clarification of refund-related issues
The following has been clarified namely: -
• Refund of accumulated input tax credit under Section 54(3) on the basis of that available as per FORM GSTR 2B
•Requirement of the undertaking in FORM RFD 01 inserted vide Circular No. 125/44/2019-GST
• Manner of calculation of Adjusted Total Turnover under sub-rule (4) of Rule 89 of CGST Rules consequent to Explanation inserted in sub-rule (4) of Rule 89 vide notification No. 14/2022- CT.
• Clarification in respect of admissibility of refund where an exporter applies for a refund subsequent to compliance with the provisions of sub-rule (1) of rule 96A
[Circular No. 197/09/2023- GST]
