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of <h1>Karnataka's New GST Circular Simplifies Electronic Refund Claims, Clarifies ITC Refunds, and Highlights Timely Processing.</h1> The circular from the Karnataka Department of Commercial Taxes addresses refund-related issues under the Karnataka Goods and Services Tax Act. It clarifies the process for electronic submission of refund claims, eliminating the need for physical submission unless chosen by the taxpayer. The calculation of refunds for accumulated Input Tax Credit (ITC) due to an inverted duty structure and addresses the disbursal of refund amounts, emphasizing the importance of timely processing to avoid interest payments. It also provides guidance on handling refund applications not physically received and clarifies the treatment of ITC on compensation cess and input services. The circular modifies previous instructions and mandates strict adherence to the new guidelines.
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