GST - RECREDIT IN ELECTRONIC CREDIT LEDGER

[SAFETAB LIFESCIENCE]

Dear Experts,

Hope you are all safe and doing well. Please stay safe.

We have received an excess refund of GST from Department erroneously by cash when we applied under refund under inverted duty structure category. Some ineligible amount was also included by mistake and Department has also refunded.

We ourself found the mistakes and voluntarily repaid the amount with applicable interest by cash in Electronic Cash Ledger with applicable interest and debited the same through DRC-03.

Now we have to get the amount to be re credited in our Electronic Credit Ledger. We are eligible to get it credited in Credit Ledger as at the time of submission of original refund application the entire amount applied was debited from Credit Ledger and then we received by cash directly in to bank. But as we have erroneously received some excess amount, we have paid in by Cash in Cash Ledger and debited through DRC-03. Technically the amount is with the department now but it is to be re-credited in our Electornic Credit Ledger.

What is the procedure ? Shall we give simply one letter to Department for information and take credit by our own in GSTR-3B ? (or) Shall we submit a fresh refund application under 'other' category and request the department to recredit into our Credit Ledger. We came to know that there is no specific concrete proceedure with Department for this type of receipt in cash by department and to give recredit in Tax payer's Credit Ledger through PMT-03.

PLEASE GUIDE US.

AI Summary

Company Seeks Re-credit of Excess GST Refund; Experts Advise New Application and Notification to Authority A company received an excess GST refund due to an error in their application under the inverted duty structure. They voluntarily repaid the excess amount with interest but now seek to have the amount re-credited to their Electronic Credit Ledger. The company is unsure of the procedure, considering either informing the department and taking credit in GSTR-3B or submitting a new refund application. Two experts advised applying for a refund afresh and notifying the jurisdictional authority, as self-crediting is not permissible. The company notes the lack of a specific procedure for such cases.