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TMI Blog2024 (12) TMI 1183X X X X Extracts X X X X X X X X Extracts X X X X ..... ular No.197/09/2023-GST dated 17th July, 2023. Such exercise shall be completed within a period of twelve weeks from the date of receipt of the copy of this order after providing an opportunity of hearing to the petitioner. Petition disposed off by way of remand. - HONOURABLE MR. JUSTICE BHARGAV D. KARIA AND HONOURABLE MR. JUSTICE D.N.RAY Appearance: For the Petitioner(s) No. 1: Mr. Avinash Poddar (9761). For the Petitioner(s) No. 1: Ms Anchal A Poddar (13386). For the Respondent(s) No. 3,4: Ms Shrunjal Shah, AGP. For the Respondent(s) No. 1,2: Mr Py Divyeshvar (2482). ORAL ORDER (PER : HONOURABLE MR. JUSTICE BHARGAV D. KARIA) 1. Heard learned advocate Mr. Avinash Poddar for the petitioner through video conference, learned advocate Mr. P. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d, the price of the goods charged by the exporter and also the Fee on Board i.e. FOB value or Cost Insurance Freight (CIF Value) as the case may be are also declared. 3.4. For the period July, 2017 till September, 2021, the petitioner was granted transaction value under Rule 89 (4) of the CGST Rules before the explanation was inserted amounting to Rs. 22,55,96,206.85/- considering the price actually received by the petitioner from the foreign customers, however, the FOB value of such goods shown in the shipping bills was Rs. 12,34,04,096/- which is 56% of the actual transaction value. 3.5. The petitioner accordingly filed a refund claim of Rs. 56,14,652/- and the refund was paid by the respondent No.4 amounting to Rs. 35,31,021.90/- and rej ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... le (4) of Rule 89 of CGST Rules consequent to Explanation inserted in sub-rule (4) of Rule 89 vide Notification No. 14/2022-CT, dated 05.07.2022. 3.1 Doubts have been raised as regarding calculation of adjusted total turnover under sub-rule (4) of rule 89 of CGST Rules, in view of insertion of Explanation in sub-rule (4) of rule 89 of CGST Rules vide Notification No. 14/2022-Central Tax dated 05.07.0222. Clarification is being sought as to whether value of goods exported out of India has to be considered as per Explanation under sub-rule (4) of rule 89 of CGST Rules for the purpose of calculation of adjusted total turnover in the formula under the said sub-rule. 3.2 In this regard, it is mentioned that consequent to amendment in definition ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... would be the same and the petitioner would be entitled to get the entire refund of Rs. 56,14,652/- instead of Rs. 35,31,021.90/- as sanctioned by the respondent-Authorities. Learned advocate Mr. Avinash Poddar therefore submitted that the matter may be remanded back to the respondent-Authorities to recalculate the refund and process the refund application as claimed by the petitioner as per the Clarification made by the CBIC in Circular No. 197/09/2023-GST dated 17th July, 2023. 5. Learned advocate Mr. P.Y. Divyeshvar for the respondent Nos. 1 and 2 submitted that the respondent-Authorities rejected the refund relying upon the Notification No. 14/2022 dated 05.07.2022, however, as per the Clarification issued by the CBIC, the respondent-aut ..... X X X X Extracts X X X X X X X X Extracts X X X X
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