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of <h1>Karnataka Tax Department Simplifies Refund Process for Unutilized ITC in Electricity Exports; New Clause in KGST Rules 2017.</h1> The circular from the Karnataka Department of Commercial Taxes outlines the procedure for filing and processing refunds of unutilized Input Tax Credit (ITC) related to the export of electricity. It addresses the lack of a requirement for a Shipping Bill in electricity exports and introduces a new clause in the KGST Rules, 2017. Applicants must file electronically under the 'Any Other' category in FORM GST RFD-01, providing details in Statement 3B and uploading necessary documentation. The relevant date for filing is the last day of the export month as per the Regional Energy Account. The refund amount is calculated using a specified formula, and officers must verify the application before issuing refunds.
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