Clarification on Refund related issues
The following the refund related issues has been clarified:
1. Physical submission of refund claims with jurisdictional proper officer
2. Calculation of refund amount for claims of refund of accumulated Input Tax Credit (ITC) on account of inverted duty structure
3. Disbursal of refund amounts after sanction
4. Refund applications that have been generated on the portal but not physically received in the jurisdictional tax offices
5. Issues related to refund of accumulated Input Tax Credit of Compensation Cess
6. Non-consideration of ITC of GST paid on invoices of earlier tax period availed in subsequent tax period
7. Misinterpretation of the meaning of the term “inputs”
8. Refund of accumulated ITC of input services and capital goods arising on account of inverted duty structure
