Refund of unutilised ITC for export of electricity: claim process and Rule 89 calculation clarified using monthly REA.
Procedure for refund of unutilised Input Tax Credit on export of electricity: file FORM GST RFD-01 under "Any Other" with remark "Export of electricity- without payment of tax (accumulated ITC)", upload Statement 3B, the monthly Regional Energy Account issued by RPC Secretariat, export invoices, tariff agreements, and Statement-3A calculation. Relevant date is the last date of the month as per the monthly REA. Refund calculation follows Rule 89(4): exported turnover = scheduled energy (REA) x tariff per unit, using the lower of REA and invoice quantities; Adjusted Total Turnover excludes domestic electricity turnover.

Refund of unutilised ITC for export of electricity: filing, documentation and calculation rules under GST procedures.
Refund claims of unutilised Input Tax Credit for export of electricity must be filed in FORM GST RFD-01 under "Any Other" with the remark "Export of electricity- without payment of tax (accumulated ITC)"; applicants must upload Statement 3B with export invoice details, monthly Regional Energy Account (REA) statement of scheduled energy from the RPC Secretariat and tariff agreements, and provide a refund calculation in Statement 3A. The refund is calculated using the rule 89(4) formula, with turnover of exports determined by scheduled energy in the REA multiplied by the agreed tariff per unit; where quantities differ between invoice and REA, the lower is used.

Re credit of electronic credit ledger for deposited erroneous refunds enabled via FORM GST PMT 03A after FORM GST DRC 03 payment.
Provides the procedure for re crediting amounts into the electronic credit ledger where taxpayers deposit erroneously sanctioned refunds: eligible categories include IGST refunds contravening sub rule (10) of rule 96, unutilised ITC on export without payment, unutilised ITC on zero rated supplies to SEZ without payment, and unutilised ITC from inverted duty structure. Taxpayers must deposit the erroneous refund with interest and penalty via FORM GST DRC-03, submit the prescribed written request (Annexure A) to the proper officer, who will re credit the ledger by order in FORM GST PMT-03A upon satisfaction, preferably within 30 days.

Re-credit of electronic credit ledger allowed after deposit of erroneous refund, with officer order in FORM GST PMT-03A.
Re-credit in the electronic credit ledger is permitted where a taxpayer deposits an erroneously sanctioned refund with applicable interest and penalty through FORM GST DRC-03; the taxpayer must request re-credit using the prescribed Annexure-A, and the proper officer, after verifying payment, shall re-credit an equivalent amount by order in FORM GST PMT-03A, preferably within thirty days from receipt of the request or payment.

Refund entitlement under inverted duty structure clarified: concessional notifications can allow ITC refund when output rate undercuts input.
Refund of accumulated input tax credit is admissible where accumulation arises because the rate of tax on outward supplies is lower than the rate on inputs at the same point in time due to supply made under a Government concessional notification prescribing a lower tax rate for specified supplies; refunds remain unavailable for nil rated or fully exempt outputs and are subject to other statutory conditions and any Government notification excluding certain supplies from refund.

Refund of accumulated input tax credit allowed where concessional notification causes lower output tax rate, subject to exclusions.
Refund of accumulated Input Tax Credit is available where accumulation arises because the rate of tax on outward supplies is lower than the rate on inputs at the same point in time due to supply under a concessional notification; refunds remain unavailable for nil rated or fully exempt supplies and for supplies specifically excluded by Government notification, and other statutory conditions for refund continue to apply.

Deemed export credit for refund is not ITC under Chapter V and is excluded from Section 17 disallowances.
Tax paid on supplies regarded as deemed exports is placed in recipients' electronic credit ledger solely to enable refund claims and is not ITC under Chapter V; therefore it is not subject to Section 17 disallowances and is excluded from "Net ITC" when computing refund under rules 89(4) and 89(5). The proviso to section 17(5)(b) applies to the whole clause; "leasing" in that clause covers only motor vehicles, vessels and aircraft. Employer perquisites under contract are not supplies for GST. Electronic credit ledger funds may be used only for output tax (not reverse charge, interest, penalty or other liabilities); electronic cash ledger may pay tax, interest, penalty, fees or other amounts.

Input Tax Credit clarification: ITC for deemed exports and utilisation rules for electronic ledgers clarified under GST.
The Circular clarifies that portal-enabled ITC for claiming refunds on supplies regarded as deemed exports is not ITC under Chapter V and must be excluded from Net ITC for refund computations; the proviso expanding credit availability where an employer is legally obliged to provide goods or services applies to the entire blocked-credits clause; "leasing" in the blocked list is limited to motor vehicles, vessels and aircraft; employer contractual perquisites are outside GST as services by employee to employer; electronic credit ledger may discharge only output tax (excluding reverse charge) while electronic cash ledger may meet tax, interest, penalty, fees and other liabilities.

Fraudulent input tax credit triggers demand, recovery, interest and targeted penal action under goods and services tax law.
Clarifies that issuance of tax invoices without actual supply does not constitute a taxable "supply" and therefore does not attract tax demand against the issuer, though the issuer is liable to penal action for issuing invoices without supply. A recipient who fraudulently avails and utilises ITC without receipt of goods or services is liable to demand and recovery of ITC with interest and penal action for fraudulent availment. If that recipient passes on credit by issuing invoices without supply, no tax demand arises for non-existent outward supply, but penal action applies for issuing invoices without supply and for taking/utilising ineligible ITC; other consequences may follow on facts.

Fraudulent input tax credit: recipients face demand, recovery and penal action; issuers face penal liability for fake invoices.
Where tax invoices are issued without actual supply, the issuer does not create a supply and thus no tax demand under recovery provisions arises against the issuer, but the issuer is liable to penal action for issuing invoices without supply; recipients who fraudulently avail and utilize input tax credit without receipt of goods or services are liable for demand and recovery of such ITC with interest and penal action under provisions addressing fraudulent availment or utilization, and those who further pass on ITC without supply are not liable for output tax demand but are subject to penal provisions for issuance of invoices and improper use of ITC.

Inter State supply reporting must be place of supply wise, and ITC reversals/ineligible credits must follow specified GSTR table reporting.
Registered persons must report inter State supplies to unregistered persons, composition taxpayers and UIN holders place of supply wise in Table 3.2 of FORM GSTR 3B and corresponding FORM GSTR 1 tables; customer database and invoice PoS must be accurate. Table 4(A) of GSTR 3B is auto populated from GSTR 2B, but absolute non reclaimable ITC reversals and ineligible credits must be reported in Table 4(B)(1), temporary/reclaimable reversals in Table 4(B)(2), reclaimed credits in Table 4(A)(5) and Table 4(D)(1), with Net ITC in Table 4(C) credited to the Electronic Credit Ledger; time limit exclusions go in Table 4(D)(2).

Mandatory reporting of inter State supplies ensures accurate GSTR 3B/GSTR 1 disclosure and correct Input Tax Credit reversal accounting.
Suppliers must report place of supply wise inter State supplies to unregistered persons, composition taxable persons and UIN holders in Table 3.2 of FORM GSTR 3B and corresponding GSTR 1 tables; maintain accurate customer state data; and ensure GSTR 1 amendments reflect in GSTR 3B. FORM GSTR 2B auto populates Table 4(A) of GSTR 3B with total ITC, but registered persons must separately report absolute ineligible reversals in Table 4(B)(1) and temporary/reclaimable reversals in Table 4(B)(2). Net ITC credited to the electronic credit ledger is 4(A) less 4(B)(1) and 4(B)(2); time barred ITC may be shown in Table 4(D)(2). Reversals under section 17(5) must be placed in Table 4(B), not Table 4(D).

KYC Registration Agencies must report cyber incidents within six hours and provide quarterly incident reports for regulatory oversight.
KRAs must report all cyber-attacks, threats, incidents and breaches within six hours of detection and notify the national computer emergency response body; systems designated as protected must also notify the national critical information infrastructure authority. KRAs must submit quarterly reports on incidents, vulnerabilities and mitigation measures within 15 days of quarter-end using the prescribed format and dedicated e-mail, and put in place systems to implement these requirements immediately.

PIMS registration required at SEZ/FTWZ/EOU import; DTA registration only if processing alters HS code into a PIMS tariff line.
PIMS registration is mandatory at the point of import into SEZ/FTWZ or at import by an EOU for paper tariff lines covered by PIMS. No PIMS registration is required by a DTA unit on customs clearance from SEZ/FTWZ/EOU if the item registered on entry has not been processed; if processing in SEZ/FTWZ/EOU changes the 8 digit HS code and the resulting item falls under PIMS tariff lines, the DTA importer must register under PIMS.

Customs refund claims depend on prior reassessment or amendment of assessment, with post-out-of-charge procedures strictly regulated.
Refund claims for excess customs duty on Bills of Entry require prior modification of the assessment or self-assessment through the proper statutory route, and refund cannot be entertained under section 27 alone. Group officers are to re-assess Bills of Entry only as a consequence of an appellate order, not suo motu, and consequential refund is then to be processed by the Refund Section. Certain Bills of Entry, including post-out-of-charge amendments under sections 149 or 154 and cases with no revenue implication, are excluded from this restriction, subject to the stated procedural requirements.

Investor Grievance Redressal: exchanges must deploy online complaint systems and continue hybrid grievance and arbitration processes.
SEBI directs Recognized Stock Exchanges, Commodity Derivatives Exchanges and Depositories to implement a 24x7 web-based investor complaints redressal system interoperable with SCORES within six months, featuring online lodging, unique registration and tracking, online movement to concerned entities, Action Taken Reports, audit trails, centralised storage and MIS, access for trading members and DPs, investor status visibility and online clarifications. SEBI mandates continuation of a hybrid mode for GRC, arbitration and appellate arbitration, and replaces clause 1.J.(iii) of its 2017 circular to exempt clients with claims up to a specified monetary threshold from arbitration fees.

MEIS scrip transfer recording resumes, withdrawing the import-utilisation arrangement created during unavailability of the mandatory recording facility.
Re-operationalisation of the DGFT Scrip Transfer Recording Module restores the facility for recording transfer details of MEIS scrips, with additional features and limitations. Public Notice No. 92/2021, concerning utilisation of MEIS scrips for imports when the mandatory transfer-detail recording facility was unavailable, is withdrawn. Stakeholders must use the re-operationalised mechanism for MEIS scrip transfers.

Export policy conditions for motor gasoline and gas oil require domestic supply commitments and quarterly reporting to MoPNG.
DGFT amended export policy for specified HS codes covering motor gasoline and gas oil to impose policy conditions: exporters must submit a self-declaration at the time of export confirming that a portion of the Shipping Bill quantity has been or will be supplied to the domestic market during the current financial year, with exemptions for exports to Bhutan and Nepal and for 100% EOUs and SEZ units; affected exporters must file quarterly returns with the Ministry of Petroleum and Natural Gas. CBIC instructed Customs officers to implement and report difficulties.

Inter-State supply reporting: report place-of-supply-wise details in returns and report ITC reversals per GSTR-3B accurately.
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 the corresponding tables of FORM GSTR-1; maintain correct customer state data and reflect GSTR-1 amendments in Table 3.2. ITC totals are auto-populated from FORM GSTR-2B but registered persons must record permanent ineligible reversals in Table 4(B)(1), temporary/reclaimable reversals in Table 4(B)(2), compute Net ITC as 4(C)=4(A)-[4B(1)+4B(2)] and ensure only net ITC is credited to the electronic credit ledger; time-barred credits go in Table 4(D)(2).

Refund sanction procedure requires speaking orders, documentary verification, and post-audit review for higher-value claims.
Refund claims under the Assam GST framework require a detailed speaking order with FORM GST RFD-06 setting out the factual and legal basis for sanction or rejection, including limitation, documents, return filing, pending dues, hearing details, case law, and the applicability of unjust enrichment where relevant. In refund categories such as accumulated ITC, zero-rated supplies, deemed exports, excess cash ledger, and other claims, the officer must verify ledger debit, computation, admissibility of ITC, statutory restrictions, and supporting records from GSTR forms, ICEGATE, BRC/FIRC, and SEZ documentation. Pre-audit is not required, but post-audit and review continue for refund claims of Rs. 1 lakh or more, subject to prescribed timelines.