Refund of input tax credit: revised formula and eligibility rules enable claims for zero-rated and export-related supplies. The rules deem a UIN granted under the Central Act to be granted under the Punjab Act and restrict retrospective amendment of registration particulars absent a written Commissioner order. They prescribe a formula and defined terms for refund of input tax credit on zero-rated supplies made without payment of tax under bond or letter of undertaking, allow refunds where suppliers availed specified export notifications, mandate quarterly refund applications in FORM GST RFD-10 for eligible persons, and substitute multiple registration and refund forms with detailed documentation and verification requirements.
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Refund of input tax credit: revised formula and eligibility rules enable claims for zero-rated and export-related supplies.
The rules deem a UIN granted under the Central Act to be granted under the Punjab Act and restrict retrospective amendment of registration particulars absent a written Commissioner order. They prescribe a formula and defined terms for refund of input tax credit on zero-rated supplies made without payment of tax under bond or letter of undertaking, allow refunds where suppliers availed specified export notifications, mandate quarterly refund applications in FORM GST RFD-10 for eligible persons, and substitute multiple registration and refund forms with detailed documentation and verification requirements.
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