Refund sanction on lower export value mandates comparing invoice and FOB shipping bill values and correcting excess refunds. Refunds for zero-rated supplies made without payment of tax must be sanctioned on the lower of the GST invoice value and the corresponding shipping bill FOB value; officers must examine instances where higher invoice values were used resulting in excess refunds and take appropriate time-bound action to rectify and recover excess payments in accordance with law.
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Refund sanction on lower export value mandates comparing invoice and FOB shipping bill values and correcting excess refunds.
Refunds for zero-rated supplies made without payment of tax must be sanctioned on the lower of the GST invoice value and the corresponding shipping bill FOB value; officers must examine instances where higher invoice values were used resulting in excess refunds and take appropriate time-bound action to rectify and recover excess payments in accordance with law.
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