Withdrawal of circular: ab initio annulment of guidance after omission of refund rule, stakeholders to be notified.
The Circular providing clarification on refunds under rule 95A - permitting refunds for indigenous goods sold by retail outlets beyond immigration counters to departing international tourists against foreign exchange - is withdrawn ab initio because rule 95A has been retrospectively omitted; the Chief Commissioner has exercised administrative withdrawal authority and directed issuance of trade notices to publicize the change and inform stakeholders that the earlier guidance no longer applies.

Refund of unutilised ITC on export of electricity clarified: filing steps, documentary proof, and calculation method specified.
Procedure for refund of unutilised Input Tax Credit on export of electricity requires electronic filing in FORM GST RFD-01 under "Any Other" with specified remark, uploading Statement 3B, the RPC-issued monthly Regional Energy Account showing scheduled energy, agreements showing tariff per unit, and a Statement 3A calculation. The relevant date is the last date of the month as per the REA. Refunds are calculated by applying the zero-rated supply formula using scheduled energy multiplied by contractual tariff (lower quantity between invoice and REA), and adjusted total turnover excludes domestic electricity; officers verify ITC non availment for domestic supply before directing debit and issuing refund orders.

Re-credit of electronic credit ledger: procedure enables re-credit via FORM GST PMT-03A after deposit of erroneous refund.
Procedure for re-crediting deposited erroneous refunds into the electronic credit ledger: the taxpayer must deposit the erroneous refund with applicable interest and penalty through FORM GST DRC-03 by debiting the electronic cash ledger and state the reason. The taxpayer should submit a written request to the jurisdictional proper officer (until portal automation exists). The proper officer, upon satisfaction of full payment by debit to the electronic cash ledger, shall re-credit an equivalent amount to the electronic credit ledger by order in FORM GST PMT-03A, preferably within thirty days from request receipt or payment, whichever is later.

Refund of accumulated input tax credit permitted where concessional notification causes output tax to be lower than input tax at the same time.
Clarification permits refund of accumulated input tax credit where credit accumulation results from the rate on inputs exceeding the rate on output supplies because the supplier makes output supplies under a concessional notification that sets a lower contemporaneous tax rate, provided the supplies are not nil rated or fully exempt and are not notified as excluded from refund, and subject to other statutory conditions under clause (ii) of the first proviso to sub-section (3) of section 54 of the APGST Act.

Input Tax Credit rules: ITC for deemed exports excluded from Section 17 and not included in net ITC.
Tax paid on supplies treated as deemed exports is provided as ITC only for enabling portal refunds and is not ITC under Chapter V, hence not subject to Section 17 and excluded from Net ITC for refund computations. The proviso to clause (b)(5) of Section 17 applies to the whole clause, enabling ITC where an employer is legally obliged to provide the good or service. "Leasing" in that clause is limited to motor vehicles, vessels and aircraft. Employer perquisites under contract are not supplies. Electronic credit ledger may be used for output tax but not reverse charge tax or non tax liabilities; electronic cash ledger may be used for tax, interest, penalty and fees.

Inter-State supply reporting: require correct place-of-supply and ITC reversal reporting to ensure accurate GSTR-3B and GSTR-1 filings.
Registered persons must report place-of-supply-wise inter-State supplies to unregistered persons, composition taxpayers and UIN holders in Table 3.2 of FORM GSTR-3B and corresponding tables of FORM GSTR-1, ensuring invoices and customer state data are accurate. Auto-populated ITC in Table 4(A) from FORM GSTR-2B includes eligible and ineligible credits; absolute reversals and ineligible credits are to be reported in Table 4(B)(1), temporary/reclaimable reversals in Table 4(B)(2), and Net ITC credited to the electronic credit ledger as 4A minus [4B(1)+4B(2)].

Round-the-clock customs clearance expanded to inland container depots, allowing locally designated extended clearance regimes subject to resource and publicity requirements.
Pr. Chief/Chief Commissioners may designate Inland Container Depots for extended customs clearance in one of three modes: round the clock clearance, seven day clearance with stipulated hours, or specified extended hours on certain days. Designation can be limited to specified import/export categories (facilitated Bills of Entry, reefer/perishable exports sealed before Customs, free Shipping Bills) or cover all such categories. Authorities must consider trade requests, volume and commodity nature, involvement of other agencies, custodians' arrangements and cost recovery; ensure staffing and logistics; issue Public Notices and Standing Orders; and inform the Board by email.

Direct investor transactions in ETFs deferred; applicability of threshold requirement postponed to address implementation challenges.
Applicability of the provision restricting direct transactions with AMCs for units of exchange traded funds to investors above a specified threshold is deferred; stakeholder feedback on implementation challenges prompted postponement of the threshold-based direct-transaction requirement, with other aspects of the earlier circular continuing to operate under SEBI's regulatory powers.

SEZ approvals expand co-developer recognitions and LoA extensions, while delegating restricted procurement decisions to development commissioners.
Board approved extensions of Letters of Approval and multiple co-developer recognitions subject to execution of co-developer agreements, standard SEZ Act and Rules conditions and tax/customs observations; authorised formal approval for an IT/ITES SEZ; cancelled a co-developer designation subject to statutory compliance; granted a one time ex post facto import approval conditioned on exclusive export of resultant goods; conditioned renewal of plastic recycling unit LoAs on Net Foreign Exchange and export/tonnage criteria; delegated permission to Development Commissioners to allow restricted sand and soil supplies for SEZ infrastructure use; and approved transfer of a developer LoA subject to tax clearance and continuity conditions.

Virtual personal hearings allowed only at assessee request; physical hearings continue for those not opting for virtual.
The amendment provides that personal hearings before adjudicating and appellate authorities shall be conducted in virtual mode only at the assessee's request; for assessees not opting for virtual mode, personal hearings shall be conducted in physical mode. Any difficulty in implementing these instructions must be reported to the Board immediately.

KYC Aadhaar validation to commence, requiring existing Aadhaar-based records to be validated within the prescribed timeline.
Validation of KYC records that used Aadhaar as an Officially Valid Document shall commence from November 01, 2022, and existing clients with Aadhaar-based KYC must be validated within 180 days from that date. The circular implements amendments to the SEBI KYC Registration Agency Regulations and directs KRAs and intermediaries to validate both new and existing KYC records pursuant to SEBI's regulatory powers under the SEBI Act and the KYC Regulations.

Running account settlement of client funds required on designated monthly or quarterly first Fridays, with exchanges enforcing compliance.
Settlement of clients' running accounts is limited to funds and must be carried out by trading members on a uniform schedule: quarterly settlements for clients with the default mandate on the first Friday of each quarter (or the preceding trading day if that Friday is a holiday), and monthly settlements on the first Friday of every month (or the preceding trading day if that Friday is a holiday). Exchanges must notify members, amend rules, monitor timely settlement, ensure excess funds are not retained, require TM reporting, and report implementation status to the regulator.

Relaxation of Bill of Export requirement permits alternative evidence for EPCG supplies to SEZ units made before 1st April 2015.
For supplies to SEZ units under EPCG Authorization made prior to 01.04.2015, exporters may discharge export obligations without submitting a Bill of Export by providing corroborative evidence such as an ARE I form attested by jurisdictional Central Excise authorities, evidence of receipt by the SEZ recipient, or evidence of payment by the SEZ unit to the EPCG authorization holder, pursuant to Para 2.58 of the Foreign Trade Policy 2015-2020.

NFMIMS registration: air shipments exempt and single registration may cover multiple consignments; QCO details optional.
Clarification on the NFMIMS import registration regime: air freighted consignments are excluded from NFMIMS, a single registration may cover multiple consignments during its validity, QCO information is optional and not mandatory for customs to verify, and NFMIMS applies to imports under Advance Authorization, DFIA and SEZ consignments.

Suspension of Standard Input Output Norms affects listed engineering tube SIONs; exporters may apply for Advance Authorisation under procedure.
The notice suspends the Standard Input Output Norms (SIONs) at C-594, C-791 to C-796 and C-831, covering carbon/alloy and stainless steel seamless tubes and pipes (cold- and hot-finished), with immediate effect. Exporters of these products may apply for Advance Authorisation under the Handbook of Procedures provision cited in the notice, and the amendment is made pursuant to powers under the Foreign Trade Policy.

Draft GSTR-3B placed for consultation proposes auto-population, restricted edits, amendment tables, negative-value reporting and ITC reconciliation.
The draft FORM GSTR-3B is placed for stakeholder consultation to implement GST Council recommendations and Finance Act, 2022 amendments, proposing sequential filing with FORM GSTR-1, auto-population of specified rows from FORM GSTR-1 and FORM GSTR-2B, restricted editing of auto-filled fields, separate amendment tables for outward supplies and ITC, explicit rows for negative values and ITC reversals/reclaims, and measures to support accurate IGST settlement and improved reconciliation.

Refund for inverted duty structure allowed where concessional notification lowers output tax, subject to specified exclusions.
Refund of accumulated input tax credit is admissible where accumulation arises because the rate of tax on outward supplies is less than the rate on inputs at the same point in time due to supply under a concessional notification; refunds are not admissible for nil rated or fully exempt outputs or where supplies are specifically excluded by Government notification.

Input Tax Credit for deemed exports clarified: ITC for refund not treated as Chapter V ITC, excluded from net ITC.
Refunds of tax on supplies regarded as deemed exports are enabled by making the tax available as an ITC for portal claim purposes, but that ITC is not ITC under Chapter V and therefore is not subject to Section 17 restrictions nor included in "Net ITC" for computation of unutilised ITC refunds. The proviso to clause (b) applies to the whole clause; "leasing" there means only motor vehicles, vessels and aircraft. Employee perquisites under contract are outside GST. Electronic credit ledger may pay output tax but not reverse charge tax or non-tax liabilities; cash ledger may pay tax and other liabilities.

Fraudulent Input Tax Credit: issuers face penal sanctions while recipients face demand recovery and penalty under GST law.
Issuance of tax invoices without actual supply does not amount to supply and so does not attract tax demand under assessment provisions, but the issuer is subject to penal sanctions for issuing invoices without supply. A recipient who fraudulently avails and utilises ITC without receipt of goods or services is liable for recovery of the ITC with interest and for penalty under provisions addressing fraudulent availment; duplicate penalties for the same act are precluded. If such availed ITC is passed on by issuing invoices without supply, no tax demand arises for non-existent outward supply, but penal provisions apply to those who issued invoices and utilised ITC wrongfully.

Inter State supply reporting: ensure place of supply entries in GSTR 3B and GSTR 1 for correct GST settlement.
Suppliers must report inter State supplies to unregistered persons, composition taxpayers and UIN holders place of supply wise in GSTR 3B Table 3.2 and the corresponding GSTR 1 tables; maintain correct customer state details so portal auto population aligns with invoices. Table 4(A) of GSTR 3B is auto populated from GSTR 2B; permanent reversals and ineligible ITC (e.g., under rule 42/43 and section 17(5)) must be declared in Table 4(B)(1), temporary reversals in Table 4(B)(2), and Net ITC = 4A - [4B(1)+4B(2)] which is credited to the Electronic Credit Ledger; time barred ITC should be reported in 4(D)(2).