Clarification on refund related issues

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.... 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 of inverted duty structure. Vide Notification No. 53/GST....

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.... 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 tax credit on account of inverted duty structure, as amended vide Notification No. 53/GST-2, dated 23.08.2....

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....plications filed before 05.07.2022 will be dealt as per the formula as it existed before the amendment made vide Notification No. 53/GST-2, dated 23.08.2022. 2. Whether the restriction placed on refund of unutilised input tax credit on account of inverted duty structure in case of certain goods falling under chapter 15 and 27 vide Notification No.44/GST-2 dated 18.7.2022, which has been made eff....

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....otification has come into force with effect from 18.07.2022. The restriction imposed vide Notification No.44/GST-2 dated 18.7.2022 on refund of unutilised input tax credit on account of inverted duty structure in case of specified goods falling under chapter 15 and 27 would apply prospectively only. Accordingly, it is clarified that the restriction imposed by the said notification would be applic....