Clarification on refund related issues

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....ng. Attention is invited to sub-section (3) of section 54 of the HPGST 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 the HPGST Rules, 2017 prescribes the formula for grant of....

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....ection 168 of the Himachal Pradesh Goods and Services Tax Act, 2017 (hereinafter referred to as "HPGST Act"), the issues are clarified as under : Sl. No. Issue Clarification 1. Whether the formula prescribed under sub-rule (5) of rule 89 of the HPGST Rules, 2017 for calculation of refund of unutilised input tax credit on account of inverted duty structure, as amended vide Notificati....

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....espect of refund applications filed on or after July 5, 2022. The refund applications filed before July 5, 2022 will be dealt as per the formula as it existed before the amendment made vide Notification No. 14/2022-State Tax, dated August 1, 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 ....

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....n inputs being higher than the rate of tax on the output supplies of such specified goods (other than nil rated or fully exempt supplies). The said notification has come into force with effect from July 18, 2022. The restriction imposed vide Notification No. 9/2022-State Tax (Rate) dated July 21, 2022 on refund of unutilised input tax credit on account of inverted duty structure in case of spec....