https://www.taxtmi.com/article/detailed?id=17387 Large-value GST refunds for zero-rated supplies require accurate application of the Rule 89(4) formula, including reconciliation of Net ITC with GSTR-2B and the electronic credit ledger, application of the domestic-value cap, and correct Adjusted Total Turnover. A deficiency memo treats an incomplete application as not filed, while a merit-based proposed rejection requires notice, written response and an opportunity of being heard. Objection-specific documentation should address ITC eligibility, export nexus, export-realisation evidence, turnover reconciliation, credit notes, Letter of Undertaking validity and exempt-supply classification. en-us Fri, 11 Sep 2026 08:34:18 +0530 Fri, 11 Sep 2026 08:34:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=17387 Large-value GST refunds for zero-rated supplies require accurate application of the Rule 89(4) formula, including reconciliation of Net ITC with GSTR-2B and the electronic credit ledger, application of the domestic-value cap, and correct Adjusted Total Turnover. A deficiency memo treats an incomplete application as not filed, while a merit-based proposed rejection requires notice, written response and an opportunity of being heard. Objection-specific documentation should address ITC eligibility, export nexus, export-realisation evidence, turnover reconciliation, credit notes, Letter of Undertaking validity and exempt-supply classification. Articles Goods and Services Tax - GST Fri, 11 Sep 2026 08:34:18 +0530 https://www.taxtmi.com/article/detailed?id=17387