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of <h1>New Circular Simplifies GST Refund Process: Electronic Submissions, ITC Clarifications, and Disbursal Timelines under CGST Act 2017.</h1> The circular addresses various refund-related issues under the Central Goods and Services Tax Act, 2017, aiming to simplify the refund process and ensure uniformity in implementation. It mandates electronic submission of refund applications and supporting documents, eliminating the need for physical submissions, though taxpayers can still opt for physical submission if desired. It clarifies the calculation of refund amounts for unutilized Input Tax Credit (ITC) due to inverted duty structures and addresses disbursal timelines to avoid interest payments. The circular also provides guidelines for handling refund applications generated on the portal but not physically submitted and clarifies issues related to compensation cess refunds and ITC on inputs.
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