Budget 2024 should allow refund of excess taxes paid under CGST

The GST Council in its 53rd meeting, held in June 2024, recommended insertion of Section 11A in the Central Goods and Services Tax Act 2017 (CGST Act) to grant the government powers to regularise the non-levy or short levy of Goods and Services Tax (GST), where tax paid was short or not paid due to common trade practices. Though such a provision has not been in place, the GST Council has been reco…