9911796707
TMI BlogMechanism for refund of additional Integrated Tax (IGST) paid on account of upward revision in price of the goods subsequent to exportsX X X X Extracts X X X X X X X X Extracts X X X X ..... o exports reg. Representations have been received from trade/ industry requesting for prescribing a mechanism for seeking refund of additional IGST paid on account of upward revision in price of goods subsequent to export. It has been represented that there are cases where the price of export goods needs to be revised, subsequent to their exports, due to various reasons such as linking of the prices of the export commodities to some international index or as per the terms of contract between the two parties etc. In such cases, where there is upward revision in price of goods subsequent to exports, the exporter is required to pay additional IGST on account of upward price revision along with applicable interest but there exists no mechanism ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... to provide for filing of such refund application in FORM GST RFD-01 , which shall be dealt with in accordance with provisions of rule 89 of CGST Rules . 3.2 GSTN is in the process of development of a separate category of refund in FORM GST RFD-01 , for filing an application of refund of such additional IGST paid. However, till the time such separate category for claiming refund of additional amount of IGST paid is developed on the common portal, such exporter(s) may claim refund of the additional IGST paid on account of upward revision in price of goods subsequent to exports, by filing an application of refund in FORM GST RFD-01 under the category Any other with remarks Refund of additional IGST paid on account of increase in price subseque ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r, in cases, where the relevant date as per clause (a) of Explanation (2) of section 54 of the CGST Act was before the date on which sub-rule (1B) of rule 89 of CGST Rules has come into force, such refund application can be filed before the expiry of a period of two years from the date on which the said sub-rule has come into force. 6. The following documents are required to be accompanied with the refund claim in order to establish that refund is due to such exporter: (a) Copy of shipping bill or bill of exports; (b) Copy of original invoices; (c) Copy of contract/ other document(s), as applicable, indicating requirement for the revision in price of such goods subsequent to exports; (d) Copy of the original invoices as well as relevant deb ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of the amount claimed is payable as refund, he shall proceed to issue the refund sanction order in FORM GST RFD-06 and the payment order in FORM GST RFD-05 . The proper officer shall also upload a detailed speaking order along with the refund sanction order in FORM GST RFD-06 in terms of Instruction No. 03/2022-GST dated 14.06.2022. 9. Further, there may be certain cases where there is downward revision in price of goods subsequent to exports, when the export has been made with payment of IGST. In all such cases, the supplier of goods/exporter is required to deposit the refund of the IGST received in proportion to the reduction in price of exported goods, along with applicable interest. The proper officer while granting the refund as per pa ..... X X X X Extracts X X X X X X X X Extracts X X X X
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