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of <h1>New Procedure for Processing IGST Refunds Based on Exporter Risk Assessments Announced; Supersedes Previous SOPs.</h1> The circular outlines the revised procedure for processing and sanctioning Integrated Goods and Services Tax (IGST) refunds withheld due to risk assessments of exporters. The Directorate General of Analytics and Risk Management (DGARM) identifies exporters based on risk parameters and places alerts on them. These alerts result in withholding IGST refunds, which are then transmitted as system-generated claims to jurisdictional officers. Officers must verify the genuineness of exporters, ensuring compliance with Input Tax Credit (ITC) rules, and process refunds accordingly. The process includes detailed verification, potential physical inspections, and feedback provision for alert continuation or removal. Previous SOPs are superseded by these instructions.
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