Bunching of refund claims across financial years now permitted, with proportional refund and documentation requirements enforced. Restriction on bunching of refund claims across financial years is removed, allowing clubbing of tax periods spanning different financial years. Refund of accumulated ITC due solely to a reduction in tax rate on the same goods is not admissible under the provision for accumulation from inverted rate differentials. Refunds for tax paid on non-zero-rated supplies will be apportioned according to the original mode of payment, with ITC-related amounts re credited to the electronic credit ledger via Form GST PMT 03 and cash portions paid via Form RFD 06. Admissible ITC for refund is restricted to invoices uploaded by suppliers in GSTR 1 and reflected in the applicant's GSTR 2A, and Annexure B is amended to require HSN/SAC codes for inward supplies.
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Provisions expressly mentioned in the judgment/order text.
Bunching of refund claims across financial years now permitted, with proportional refund and documentation requirements enforced.
Restriction on bunching of refund claims across financial years is removed, allowing clubbing of tax periods spanning different financial years. Refund of accumulated ITC due solely to a reduction in tax rate on the same goods is not admissible under the provision for accumulation from inverted rate differentials. Refunds for tax paid on non-zero-rated supplies will be apportioned according to the original mode of payment, with ITC-related amounts re credited to the electronic credit ledger via Form GST PMT 03 and cash portions paid via Form RFD 06. Admissible ITC for refund is restricted to invoices uploaded by suppliers in GSTR 1 and reflected in the applicant's GSTR 2A, and Annexure B is amended to require HSN/SAC codes for inward supplies.
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