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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 ..... to exports reg. Madam / Sir, The Government of India, Ministry of Finance, Department of Revenue, Central Board of Indirect Taxes and Customs, GST Policy Wing vide Circular No. 226/20/2024 GST dated 11th July, 2024 has issued a mechanism for refund of additional Integrated Tax (IGST) paid on account of upward revision in price of the goods subsequent to exports, in order to ensure uniformity in the implementation of the provisions of law across the field formations, which is annexed herewith. In exercise of powers conferred by section 168 of the Tripura State Goods and Services Tax Act, 2017 (Tripura Act No. 9 of 2017) for the purpose of uniformity in the implementation of the Act it is instructed to follow the guidelines issued vide Circul ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... pward price revision along with applicable interest but there exists no mechanism for allowing them to claim refund of such additional IGST paid. 2. In order to ensure uniformity in the implementation of the provisions of the law across field formations, the Board, in exercise of its powers conferred by section 168(1) of the Central Goods and Services Tax Act, 2017 (hereinafter referred to as CGST Act ), hereby lays down the following procedure for claim and processing of refunds of additional integrated tax paid on account of upward revision in prices of goods subsequent to their exports. 3. Filing of refund claim for additional IGST paid on account of upward revision of prices of export goods, subsequent to export: 3.1 The refund of IGST ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... remarks Refund of additional IGST paid on account of increase in price subsequent to export of goods along with the relevant documents as prescribed in clause (bb) of sub-rule (2) of rule 89 of the CGST Rules. The exporter shall also upload the statements 9A 9B as prescribed in clause (bb) clause (bc) of sub-rule (2) of rule 89 of the CGST Rules along with the said refund claim. The exporter may also upload any other document to establish that the refund is admissible to him. 3.3 The said refund application shall be processed based on the documentary proof submitted by the refund applicant. Further, the validated details of shipping bills, amount of IGST involved in such shipping bills, as well as the amount of IGST refund sanctioned by the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... equent to exports; (d) Copy of the original invoices as well as relevant debit note(s)/ supplementary invoices; (e) Proof of payment of additional IGST and applicable interest and details of the relevant FORM GSTR-1/ FORM GSTR-3B furnished by the applicant in which the said debit note(s)/ supplementary invoice(s) were declared and tax and interest thereon had been paid by the applicant; (f) Proof of receipt of remittance of additional foreign exchange (FIRC) issued by Authorised Dealer-I banks; (g) A certificate of a practising chartered accountant or a cost accountant certifying therein that the said additional foreign exchange remittance is on account of such upward revision in price of the goods subsequent to export; (h) Statement 9A of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... icable interest. The proper officer while granting the refund as per para 8 above, shall also verify whether the exporter has deposited the excess refund amount in the cases where there is a downward revision in price of goods subsequent to exports, during the relevant tax period, if any. 10. It is requested that suitable trade notices may be issued to publicize the contents of this Circular. Difficulty, if any, in the implementation of this Circular may be brought to the notice of the Board. Hindi version will follow. (Sanjay Mangal) Principal Commissioner (GST) - Circular - Trade Notice - Public Notice - Instructions - Office orders Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMIT ..... X X X X Extracts X X X X X X X X Extracts X X X X
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