Deemed export refund: portal debit of input tax credit required; circular removes ITC prohibition and clarifies adjusted turnover calculation. Recipients of deemed export supplies may claim refund of tax paid although the portal requires debiting equivalent input tax credit from the claimant's electronic credit ledger to prevent dual benefit; the circular removes a prior prohibition on availing ITC for invoices with refund claims and requires an undertaking identifying invoices and confirming supplier non claim. The circular also extends relaxation for mis declared zero rated supplies in GSTR 3B to allow filing of refund applications under specified aggregate limits, and directs that the amended definition of turnover of zero rated goods applies when calculating adjusted total turnover for the refund formula.
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Provisions expressly mentioned in the judgment/order text.
Deemed export refund: portal debit of input tax credit required; circular removes ITC prohibition and clarifies adjusted turnover calculation.
Recipients of deemed export supplies may claim refund of tax paid although the portal requires debiting equivalent input tax credit from the claimant's electronic credit ledger to prevent dual benefit; the circular removes a prior prohibition on availing ITC for invoices with refund claims and requires an undertaking identifying invoices and confirming supplier non claim. The circular also extends relaxation for mis declared zero rated supplies in GSTR 3B to allow filing of refund applications under specified aggregate limits, and directs that the amended definition of turnover of zero rated goods applies when calculating adjusted total turnover for the refund formula.
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