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of <h1>GST Circular Clarifies Refunds: Clubbing Tax Periods, ITC Accumulation, Proportional Refunds, and Mandatory HSN/SAC Codes.</h1> The circular addresses GST refund issues, providing clarifications on refund claims across financial years, refund of accumulated input tax credit (ITC) due to GST rate changes, and changes in the refund process for non-zero-rated supplies. It removes restrictions on clubbing tax periods across financial years for refund claims, clarifies that refunds for accumulated ITC are not applicable when input and output supplies are the same, and introduces proportional refunds based on the original payment mode. It also mandates HSN/SAC codes in refund applications to distinguish between goods and services, effective from March 23, 2020.
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