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of <h1>GST Circular Clarifies ITC Refunds, Updates FORM RFD-01, and Guides Exporters on Rule 96A Compliance.</h1> The circular issued by the GST Policy Wing of the Central Board of Indirect Taxes and Customs provides clarifications on refund-related issues under the Central Goods and Services Tax (CGST) Act. It addresses the refund of accumulated input tax credit (ITC) based on FORM GSTR-2B, effective from January 2022. The requirement for an undertaking in FORM RFD-01 is updated following the omission of Section 42 of the CGST Act. The calculation of 'adjusted total turnover' for refund purposes is clarified, and guidance is provided on refund claims for exporters who comply with Rule 96A. The circular also instructs on the filing of refund applications under specific categories.
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