Clarification on refund related issues - 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.

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..... L TAXES 14, BELIAGHATA ROAD, KOLKATA-700015 TRADE CIRCULAR No. 13/2022 (Corresponding Central Circular No. 181/13/2022-GST) DATED: 14.11.2022 Subject: Clarification on refund related issues. Attention is invited to sub-section (3) of section 54 of WBGST Act, 2017, which provides for the refund of unutilized input tax credit in cases where credit is accumulated on accou .....

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..... arification on various issues pertaining to the implementation of the above notifications. In order to clarify the issues and to ensure uniformity in the implementation of the provisions of law across the field formations, the Commissioner, in exercise of his powers conferred by section 168 of the West Bengal Goods and Services Tax Act, 2017 (hereinafter referred to as WBGST Act ), hereby clarifi .....

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..... es, 2017, modifying the formula prescribed therein. The said amendment is not clarificatory in nature and is applicable prospectively with effect from 05.07.2022. Accordingly, it is clarified that the said amended formula under sub-rule (5) of rule 89 of the WBGST Rules, 2017 for calculation of refund of input tax credit on account of inverted duty structure would be applicable in respect of refun .....

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..... s? Vide Notification No. No.1397-F.T. dated 23.08.2022 ,under the powers conferred by clause (ii) of the first proviso to sub-section (3) of section 54 of the WBGST 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 the credit has accumulated on account of rate of tax on in .....

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