The CBIC vide Circular No. 166/22/2021-GST dated 17 November 2021 has issued clarifications on various issues relating to refund. The key clarifications of the above-mentioned Circulars have been tabulated hereunder:
Sr. No. |
Issue |
Clarification |
1 |
Whether the time period of 2 years specified u/s 54(1) of the CGST Act shall be applicable in case of refund of excess balance in electronic cash ledger |
It has been clarified that the time period provisions u/s 54 of the CGST Act would not be applicable in such case |
2 |
Whether declaration and CA Certificate u/r 89 of CGST Rules is required to be furnished along with the application for refund of excess balance in cash ledger |
It has been clarified that no such declaration required as per CGST Rules is required in such cases |
3 |
Whether refund of TDS/TCS deposited in electronic cash ledger can be refunded as excess balance in cash ledger |
It has been clarified that any unutilised amount in the electronic cash ledger post discharge of tax dues can be refunded to the as excess balance in electronic cash ledger in accordance with Section 54(1) of the CGST Act |
4 |
Whether the date of return filed by the supplier or date of return filed by the recipient shall be considered for the purpose of determining relevant date for refund of tax paid on supplies regarded as deemed export |
Referring to Explanation of 2(b) u/s 54 of the CGST Act it has been clarified that the relevant date for purpose of filing of refund claim for refund of tax paid on deemed export supplies would be the date of filing of return, related to such supplies, by the supplier |
Disclaimer:
The information provided in this update is intended for informational purposes only and does not constitute legal opinion or advice. Readers are requested to seek formal legal advice prior to acting upon any of the information provided herein. This update is not intended to address the circumstances of any particular individual or corporate body. There can be no assurance that the judicial/ quasi judicial authorities may not take a position contrary to the views mentioned hereinrra quis.
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