Refund procedure for inverted tax credit clarified: claim under 'any other' and follow prescribed debit and issuance steps. Where portal validation blocks refund of accumulated ITC for periods in which ITC required to be lapsed was reversed, taxpayers may, as a one-time measure, file FORM GST RFD-01A under the 'any other' category for the same period with all statutory documents; the proper officer will calculate admissible refund under rule 89(5), require debit from the electronic credit ledger via FORM GST DRC-03, and on proof of debit issue the refund order and payment advice. Late reversals attract interest until reversal date.
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Refund procedure for inverted tax credit clarified: claim under "any other" and follow prescribed debit and issuance steps.
Where portal validation blocks refund of accumulated ITC for periods in which ITC required to be lapsed was reversed, taxpayers may, as a one-time measure, file FORM GST RFD-01A under the "any other" category for the same period with all statutory documents; the proper officer will calculate admissible refund under rule 89(5), require debit from the electronic credit ledger via FORM GST DRC-03, and on proof of debit issue the refund order and payment advice. Late reversals attract interest until reversal date.
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