Clarification on refund related issues

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... Attention is invited to sub-section (3) of section 54 of HGST Act, 2017, which provides for the refund of unutilized input tax credit in cases where credit is accumulated on account of rate of tax of inputs being higher than the rate of tax on output supplies i.e. on account of inverted duty structure. Sub-rule (5) of rule 89 of HGST Rules, 2017 prescribes the formula for grant of refund in cases....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ate Tax, in exercise of its powers conferred by section 168 of the Haryana Goods and Services Tax Act, 2017 (hereinafter referred to as "HGST Act"), hereby clarifies the issues as under: S. No. Issue Clarification 1. Whether the formula prescribed under sub-rule (5) of rule 89 of the HGST Rules, 2017 for calculation of refund of unutilised input ta....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....le 89 of the HGST Rules, 2017 for calculation of refund of input tax credit on account of inverted duty structure would be applicable in respect of refund applications filed on or after 05.07.2022. The refund applications filed before 05.07.2022 will be dealt as per the formula as it existed before the amendment made vide  Notification No. 53/....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....on 54 of the HGST Act, 2017, certain goods falling under chapter 15 and 27 have been specified in respect of which no refund of unutilised input tax credit shall be allowed, where the credit has accumulated on account of rate of tax on inputs being higher than the rate of tax on the output supplies of such specified goods (other than nil rated or f....