Subject
Clarification on refund related issues
Content
Attention is invited to sub-section (3) of section 54 of CGST 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 CGST Rules, 2017 prescribes the formula for grant of refund in cases o…