Exports related refunds: clarifies eligibility, documentation, LUT condonation, deficiency memos, valuation rules and filing periods for refund claims. Clarifies export related refund rules: drawback limited to basic customs duty does not bar refund of unutilized input tax credit; Table 9 of FORM GSTR-1 and GSTR-3B rectification procedures must be considered in refund processing; LUT may be condoned ex post facto where exports occurred; only one deficiency memo per refund application is permitted and a fresh FORM GST RFD-01A must follow rectification; transitional credits under pre-GST laws are excluded from 'Net ITC'; where invoice and shipping bill values differ, the lower value is to be sanctioned.
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Exports related refunds: clarifies eligibility, documentation, LUT condonation, deficiency memos, valuation rules and filing periods for refund claims.
Clarifies export related refund rules: drawback limited to basic customs duty does not bar refund of unutilized input tax credit; Table 9 of FORM GSTR-1 and GSTR-3B rectification procedures must be considered in refund processing; LUT may be condoned ex post facto where exports occurred; only one deficiency memo per refund application is permitted and a fresh FORM GST RFD-01A must follow rectification; transitional credits under pre-GST laws are excluded from 'Net ITC'; where invoice and shipping bill values differ, the lower value is to be sanctioned.
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