https://www.taxtmi.com/forum/issue?id=117697 The two refund categories-refund of ITC under an inverted duty structure and refund of ITC for exports under LUT-are governed by distinct procedures and formulas; they may be claimed in the same financial year provided the export and inverted-duty transactions and related ITC are separately maintained and separate refund applications are filed. A single transaction cannot support two different refunds simultaneously, though different transactions or periods may be claimed under different provisions. Practical procedural guidance and circulars address formula application where exports occur under LUT. en-us Tue, 14 Dec 2021 09:43:49 +0530 Thu, 23 Jan 2025 15:54:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=117697 The two refund categories-refund of ITC under an inverted duty structure and refund of ITC for exports under LUT-are governed by distinct procedures and formulas; they may be claimed in the same financial year provided the export and inverted-duty transactions and related ITC are separately maintained and separate refund applications are filed. A single transaction cannot support two different refunds simultaneously, though different transactions or periods may be claimed under different provisions. Practical procedural guidance and circulars address formula application where exports occur under LUT. Discussion-Forum GST Tue, 14 Dec 2021 09:43:49 +0530 https://www.taxtmi.com/forum/issue?id=117697