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TMI BlogProcessing of Refund ApplicationsX X X X Extracts X X X X X X X X Extracts X X X X ..... ines have been issued for processing of refund applications vide Circular No. 2 of 2008-2009 , Circular No. 2 , 3 8 of 2009-2010 . The guidelines should be adhered to for processing of such applications. The instructions are reiterated once again. In addition to the above, the following points may also be kept in view while processing the refund cases:- 1. After receiving refund applicati ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 6 7 8 While analyzing ITC claimed by refund claimant, Assessing Authorities may come across cases in which the selling dealer/supplier may also have made local purchases and adjusted most of his output tax with his ITC. In such cases, AAs should analyze his purchase registers for the ITC claimed mainly to find out, "who has paid tax", for which the refund claiming dealer ha ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Security can also be prescribed in cases wherein it has been found that dealer is building up stock in every tax period and sale is always less than purchases. 7. The receipt of Credit Notes may be examined carefully and it must be ensured that ITC is reduced proportionately resulting in corresponding reduction of refund claim. Similar treatment may be given to cash discount, quantity discount ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e for which the refund claimant is availing credit may also be checked through tax scroll. 11. Findings of Audit / Enforcement Branch may also be kept in view while processing refund applications for a tax period. 12. Physical verification / information of suppliers registered in any ward wherever necessary will continue to be undertaken in the usual manner as circulated vide Circular No. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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