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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Karnataka Clarifies GST Refund Procedures for ITC Reversals and Inverted Tax Structures; Details on Merchant Exporter Refunds Included.</h1> The circular from the Commissioner of Commercial Taxes, Karnataka, addresses issues related to GST refunds. It clarifies procedures for claiming refunds of accumulated input tax credit (ITC) under various circumstances, such as the reversal of ITC required to be lapsed and refunds on account of inverted tax structures. For registered persons who have already reversed ITC, refunds should be claimed under a different category. It also outlines the process for those yet to reverse ITC and the consequences of late reversals, including interest liabilities. Additionally, it provides guidance on claiming refunds for merchant exporters and addresses issues with deficiency memos. The circular emphasizes adherence to the outlined procedures and invites further inquiries for clarification.
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