Refund claims across financial years can be clubbed; refunds now follow original payment modes and require invoice matching. The circular removes the restriction on clubbing refund claims across financial years, clarifies that accumulated ITC from a rate reduction on the same goods is not refund able as inverted duty accumulation, mandates proportional refund payment in the original modes of payment with cash refunds and re crediting of ITC, restricts refund of accumulated ITC to invoices uploaded by suppliers and reflected in the applicant's GSTR 2A, and requires HSN/SAC codes in Annexure B for invoice statements uploaded with refund applications.
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Refund claims across financial years can be clubbed; refunds now follow original payment modes and require invoice matching.
The circular removes the restriction on clubbing refund claims across financial years, clarifies that accumulated ITC from a rate reduction on the same goods is not refund able as inverted duty accumulation, mandates proportional refund payment in the original modes of payment with cash refunds and re crediting of ITC, restricts refund of accumulated ITC to invoices uploaded by suppliers and reflected in the applicant's GSTR 2A, and requires HSN/SAC codes in Annexure B for invoice statements uploaded with refund applications.
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