Clarification on refund related issues

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..... ded that the said Circular issued by the CBIC is being made applicable, mutatis mutandis, in implementation of the Goa GST Act, 2017. Copy of the referred CBIC Circular is attached herewith. This Trade Circular is clarificatory in nature. Difficulty, if any, in implementation of this Circular may please be brought to the notice of the undersigned. Sarpreet Singh Gill, IAS Commissioner of State Taxes, Panaji. Circular No. 181/13/2022-GST F. No. CBIC-20021/4/2022 Government of India Ministry of Finance Department of Revenue Central Board of Indirect Taxes and Customs GST Policy Wing New Delhi, Dated the 10th November, 2022 To, The Principal Chief Commissioners/ Chief Commissioners/ Pr .....

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..... s Tax Act, 2017 (hereinafter referred to as CGST Act ), hereby clarifies the issues as under: S. No. Issue Clarification 1. Whether the formula prescribed under sub-rule (5) of rule 89 of the CGST Rules, 2017 for calculation 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 T .....

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..... 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 inputs being higher than the rate of tax on the output supplies of such specified goods (other than nil rated or fully exempt supplies). The said notification has come into force with effect from 18.07.2022. The restriction imposed vide Notification No. 09/2022-Central Tax (Rate) dated 13.07.2022 on refund of unutilised input tax credit on account of inverted duty structure in case of specified goods falling under chapter 15 and 27 would apply prospectively only. Accordingly, it is clarified that the restriction imposed by the said notification .....

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