https://www.taxtmi.com/circulars?id=69795 Input tax credit refunds claimed under the inverted tax structure must be examined against statutory restrictions, notification-based exclusions, and return and ledger data before processing. Refund is admissible only where input tax rate exceeds output tax rate, capital goods credit is excluded from the computation, and credit attributable to exempt or nil-rated supplies requires reversal. The study also notes that compensation cess credit is limited in use and refundable only in export situations, and that refund claims may be inadmissible where notification-based lapses, chapter-specific exclusions, bogus inward supplies, or incorrect classification of outward supplies are involved. en-us Thu, 13 Jun 2019 00:00:00 +0530 Wed, 29 Apr 2026 18:10:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=69795 Input tax credit refunds claimed under the inverted tax structure must be examined against statutory restrictions, notification-based exclusions, and return and ledger data before processing. Refund is admissible only where input tax rate exceeds output tax rate, capital goods credit is excluded from the computation, and credit attributable to exempt or nil-rated supplies requires reversal. The study also notes that compensation cess credit is limited in use and refundable only in export situations, and that refund claims may be inadmissible where notification-based lapses, chapter-specific exclusions, bogus inward supplies, or incorrect classification of outward supplies are involved. Circulars GST - States Thu, 13 Jun 2019 00:00:00 +0530 https://www.taxtmi.com/circulars?id=69795