TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Circulars
of of All Circulars
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Circular Clarifies Refunds for Inverted Duty Structure: Accumulated ITC Refunds Allowed Under Concessional Notification.</h1> The circular addresses the issue of claiming refunds under the inverted duty structure when suppliers provide goods under a concessional notification. It clarifies that refunds of accumulated input tax credit (ITC) are permissible when the tax rate on inputs is higher than the tax rate on outputs due to a concessional notification. This applies even if the inputs and outputs are the same, provided the output supplies are not nil-rated or fully exempted. The circular modifies previous guidance to ensure uniform application across tax authorities and requests the issuance of trade notices to disseminate this clarification.
TaxTMI 