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GST: CBIC issues Advisory on Implementation of PMT-03 to Re-Credit the ITC sanctioned as Refund

GST: CBIC issues Advisory on Implementation of PMT-03 to Re-Credit the ITC sanctioned as Refund

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The Central Board of Indirect Taxes and Customs (CBIC) has issued the advisory on the implementation of PMT-03 to re-credit the Input Tax Credit (ITC) sanctioned as a refund.

The Board has highlighted the notification No.16/2020-Central Tax dated March 23, 2020, vide which sub-Rule (4A) has been inserted in Rule 86 of the CGST Rules, 2017 and Para 4 of the Circular No 135/05/2020 dated March 31, 2020, wherein the procedure for refund of tax paid on supplies, other than zero-rated supplies were provided.

As per sub-rule 4A of Rule 86 of the CGST Rules, 2017 read with Para 4 of the Circular dated March 31, 2020, a taxpayer is entitled to refund of tax wrongly paid or paid in excess (other than zero-rated supplies), in the same mode by which the tax liability was discharged, i.e., if the tax was paid by partly debiting the credit ledger and partly debiting the cash ledger, the refund shall be sanctioned in the same proportion. The cash part has to be sanctioned and credited to the bank account of the taxpayer by the issuance of RFD-05 and the credit part should be re-credited to the electronic credit ledger of the taxpayer through PMT-03.

“The PMT-03 functionality available at present in the online refund module is only for re-crediting of the rejected amount that has been debited at the time of filing of refunds. In order to enable the operationalization of re-crediting of ITC sanctioned as refund towards tax wrongly paid or paid in excess by debiting the credit ledger, a new enhanced PMT-03 functionality has been developed and deployed in the system,” the CBIC said.

This new functionality is applicable only to the 4 types of refund as provided in the referred circular namely refund of excess payment of tax; refund of tax paid on an intra-State supply which is subsequently held to be inter-State supply and vice versa; refund on account of assessment/provisional assessment/appeal/any other order, and refund on account of “any other” ground or reason.

Source: TaxScan.

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GST: CBIC issues Clarification on reporting 4-digit/6-digit HSNs

GST: CBIC issues Clarification on reporting 4-digit/6-digit HSNs

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The Central Board of Indirect Taxes and Customs ( CBIC ) has issued Clarification on reporting 4-digit/6-digit HSNs.

GST helpdesk is in receipt of some tickets at helpdesk wherein it was reported that certain 6-digit HSN codes are not available in HSN Master/ not accepted on e-invoice/e-Way bill portals.

Background: Notification No. 12/2017-Central Tax dated June 28, 2017, as amended vide Notification No. 78/2020 – Central Tax, dated October 15, 2020, mandates taxpayers to declare specified digits, as follows, of Harmonised System of Nomenclature (HSN) / Service Accounting Code (SAC) Code on raising of tax invoices, w.e.f. April 1, 2021.

S. No. Aggregate Turnover in the preceding Financial Year
1. Upto INR 5 crores
2. More than INR 5 crores

Number of Digitals of HSN Code
4
6

It may be noted that specific 6-digit HSNs, as available in the HSN/Customs Tariff (with corresponding description of goods) are allowed in the system. It also follows that the declaration of HSN at 4/6 Digits has to be out of valid HSN codes only.

However, there are instances that some taxpayers are trying to report truncated first 6-digits out of an otherwise valid 8-digit HSN; which are actually not available in Tariff at 6-digit level and with no corresponding description of goods; these are invalid and hence not being allowed in the System.

Taxpayers may, therefore note that based on the harmonious interpretation of the Notifications, as referred above, read with Customs Tariff Act, 1975, as made applicable to GST; the number of digits of HSN, as specified vide Notifications No. 12/2017 & 78/2020 (Central Tax), are the minimum number of digits of HSN to be mentioned on the invoice.

Example: Where HSN 6 digits are specified to be reported in invoice, valid HSN codes as available in tariff, at both 6-digits and 8-digits can be mentioned. Similarly, where HSN at 4-digits are specified, valid HSN codes as available in tariff, at 4-digit, 6-digit and 8-digit can be mentioned. However, the 4/6 Digit HSN Codes, which are not available in the tariff; along with specific description, Unit and GST Rate; are not allowed to be mentioned.

Further, if the HSN of any Goods/Service is otherwise valid but not accepted on GST Portal / e-invoice Portal / e-way Bill portal, please raise a ticket on GST Self-Service Portal: https://selfservice.gstsystem.in/ > Report Issue > Type ‘HSN’ in ‘Type of Issue/Concern’ search box > Select relevant sub-category, e.g. ‘e-Invoice – IRP – HSN Code related’.

Source: TaxScan

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Offline version for GSTR-4 launched on GST portal
Few more days to file your GST Annual Return Form GSTR-4: Know Complete details

Few more days to file your GST Annual Return Form GSTR-4: Know Complete details

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The last date of Annual Return Form GSTR-4 is April 30, 2021, so file your annual return without a late fee.

The GSTR-4 is a GST Return that has to be filed by a composition dealer. Unlike a normal taxpayer who needs to furnish 3 monthly returns, a dealer opting for the composition scheme is required to furnish only 1 return which is GSTR 4 once in a year by the 30th of April, following a financial year.

Salient Features of GSTR 4 Return Form

Firstly, GSTR 4 Returns will file on an annual basis for compounding Taxable persons. The last date for filing the GSTR- 4 (CMP-08) payment form is the 18th of the month following the quarter. GSTR 4 (CMP-08) returns can be filed on 18th April, 18th July, 18th October, and 18th January, and so forth.
Secondly, GSTR 4 Form is filed by all the taxpayers who registered under the composition scheme.
Thirdly, business entities registered under the composition scheme will be required to pay taxes at fixed rates quarterly without availing input tax credit facility.
Fourthly, the taxpayer will be required to show the total value of supplies made in a specific period and tax paid at the composition rate.
Fifthly, the taxpayer will be required to insert invoice- level purchase details for the purchases from normal taxpayers, which will be automatically updated GSTR 4A Form from supply invoice uploaded by the opposite party in GSTR 1.

Procedure for filing GSTR 4 Return Form

GSTR 4 return form is divided into 13 sections but it is not necessary to fill all these sections.
1.GSTIN
Every Taxpayer gets a state-wise PAN-based 15 digit Goods and Services Taxpayer Identification Number (GSTIN) from the Government. It must be noted that the identification of the taxpayer will be automatically filled at the time of filing return in the coming future.

2. Legal Name of the Registered Person and Trade name
The taxpayer name will automatically fill time of filing the returns at GSTN portal

3. Annual Turnover in the preceding Financial Year
A taxpayer will be required to fill all the information only for the first time of filing and after then it will be automatically updated in the succeeding years.

4. Inward supplies including supplies on which tax is to be paid on reverse charge
Inward supplies received from a registered supplier (other than supplies attracting reverse charge), the information will be auto-populated from the provided by the supplier in GSTR-1 and GSTR-5. Inward supplies received from a registered supplier (attracting reverse charge- this information will be automatically filled from the information provided by the supplier in GSTR-1, inward supplies received from an unregistered supplier, and Import of service. It must be noted that all inward supplies to composition will auto-filled here.

5. Amendments to details of inward supplies furnished in returns for earlier tax periods in Table 4
It will include amendment information mentioned in earlier tax periods and also original amendments of debit or credit note received, rate-wise. Place of supply to be mentioned in case if the same is different from the location of the recipient. While providing the information of the original debit /credit note, the details of the invoice must be provided in starting three columns, whereas, providing the revision of the details of the original debit /credit note shall be provided in the first three columns of Table.

6. Tax on outward supplies made
Under this section, you will provide the details of a tax rate, total turnover, out of turnover reported, and the composition tax amount including both central tax & State/UT tax.

7. Amendments to Outward Supply details furnished in returns for earlier tax periods in Table No. 6
Under this section, you will be able to rectify the incorrect details you provided in Table 6 in previous returns, without turnover reported details additionally added.

8. Consolidated Statement of Advances paid/Advance adjusted on account of receipt of supply
Under this, details of the advance paid relating to reverse charge supplies and if you paid taxes on them, adjustments against invoices issued to be mentioned in Table 8.

9. TDS Credit received
The Tax Deduct at Source will be auto-filled in Table 9.

10. Tax payable and paid
Under this section, you will be to provide the details of Integrated Tax, Central Tax, State/UT Tax, and cess tax amount payable as well tax amount paid

11. Interest, Late Fee payable and paid
This section for those taxpayers who have not paid the taxes timely.

12. Refund claimed from Electronic cash ledger
If in case the tax liability of the composition dealer is below than the TDS deducted, he can get a refund of balancing amount. The amount which is available for the refund will auto-filled under this section.

What happens after Form GSTR-4 (Annual Return) is filed?
After Form GSTR-4 (Annual Return) is filed:
1. ARN will be generated on successful filing of the Form.
2. An SMS and email will be sent to the mobile number of the authorized signatory on the successful filing of Form GSTR-4 (Annual Return).
3. Electronic Cash Ledger and Electronic Liability Register Part-I will get updated.

Late Fees and Penalty
A late fee of Rs. 200 per day is levied if the GSTR-4 is not filed within the due date. The maximum late fee that can be charged cannot exceed Rs. 5,000.

Source: TaxScan.

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GST e-invoicing welcome step for midsize firms but might be a challenge for micro, small units: FISME

GST e-invoicing welcome step for midsize firms but might be a challenge for micro, small units: FISME

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Mandating businesses with over Rs 50 crore turnover (midsize firms) to generate e-invoices is a welcome move but it might be a problem for micro, and small businesses who don’t invest much in technology and lack digital literacy, according to Animesh Saxena, President, Federation of Indian Micro and Small & Medium Enterprises (FISME). E-invoicing was earlier made mandatory under Goods and Services Tax (GST) law for business-to-business (B2B) transactions by businesses with a turnover of more than Rs 500 crore from October 1, 2020, and over Rs 100 crore from January 1, 2021. Earlier this month, the Central Board of Indirect Taxes and Customs (CBIC) had notified the same for businesses with more than Rs 50 crore turnover. As per the MSME definition revised last year, enterprises with turnover ranging from Rs 51 crore to Rs 250 crore are classified as medium units.

“Some level of preparedness will be required but we assume companies with over Rs 50 crore turnover to be digitally literate in managing their accounts. If the government extends the e-invoicing mandate in the future to micro and small enterprises, then it might be a problem as they don’t invest much in technology and most work is outsourced. It might become an additional cost burden for them. Also, broadband connectivity could be a problem for such firms in small towns and villages,” Saxena told Financial Express Online.

Importantly, e-invoicing will allow immediate validation of the tax invoices, which is beneficial for both the taxpayer and input tax credit recipient as the errors and reconciliation requirements may get reduced significantly. However, “mid-sized businesses who do not have a well-equipped in-house IT team will have to incur CAPEX and OPEX costs for numerous activities such as modifying accounting systems to adhere to the e-invoicing, integrating their accounting systems with the IRP portal (either through APIs or third-party softwares), and undergoing detailed training for the staff to get accustomed to the e-invoicing norms and accounting infrastructure,” Saket Patawari, Executive Director – Indirect Tax, Senior Director – told Financial Express Online.

Out of 6.33 crore MSMEs, over 99 per cent are micro and small businesses in India, according to the MSME Ministry’s FY20 annual report. Medium enterprises are only 5,000 while small businesses are 3.31 lakh and micro enterprises are 6.30 crore in India. “There won’t be any impact on medium enterprises as their sphere is very less while micro and small are in majority. Micro and small owners do everything on their own in a small set-up and it might an additional responsibility for them if implemented ahead by the government. However, in contrast, this would also bring more transparency and make them more formal to benefit from government schemes. I think gradually the government will extend this to micro and small enterprises as well,” Sanjiv Layek, Executive Secretary, World Association For Small And Medium Enterprises (WASME) told Financial Express Online.

The e-invoicing system is also likely to help enterprises access instant loans as banks would be able to analyse requests based on the invoices even as the compliance requirement would be reduced as the GST system would populate the returns based on details available in the e-invoice, Financial Express had reported earlier citing officials working on the system. Moreover, as per another official, e-invoicing would help to generate invoice in a standard format, which can be read by any system, and reporting of e-invoice to a central system becomes possible.

Source: Financial Express Online.

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GST Input Tax Credit
Taxpayers can use ITC to discharge GST dues for March

Taxpayers can use ITC to discharge GST dues for March

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The Finance Ministry on Saturday said GST taxpayers can utilise the Input Tax Credit available in their credit ledger to discharge their GST dues for the month of March.

“Taxpayers are free to utilise the Input Tax Credit available in their credit ledger, as permissible in law, to discharge their GST dues for the month of March, 2021 – the last month of this financial year,” the Central Board of Indirect Taxes and Customs (CBIC) said in a statement.

Goods and Services Tax (GST) collections crossed the Rs 1 lakh crore mark for the fifth month in a row in February. The mop up in February was Rs 1.13 lakh crore.

Source: Economic-Times

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GST Return
GST: ITC to be availed based on details available in FORM GSTR-2B, clarifies CBIC

GST: ITC to be availed based on details available in FORM GSTR-2B, clarifies CBIC

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The Central Board of Indirect Taxes and Customs (CBIC), via its Twitter, handle clarified that Input Tax Credit ( ITC ) can be availed based on details available in FORM GSTR-2B.

The department was responding to an inquiry from one Mr. Rahul Modi, who asked whether the Goods and Service Tax Network (GSTN), whether ITC needs to be claimed as per 2A or 2B.

“Many clients are filing their GSTR 1 after 12th of the months which gets reflected in 2A but not in 2B which shows difference in ITC with auto populated data,” he added.

The GSTN responded that it was a policy-related issue and has been forwarded to the Government.

“Input tax credit is required to be availed based on details available in FORM GSTR-2B, which is a static ITC statement generated for each month,” the Board tweeted.

Dear Taxpayer,

Input tax credit is required to be availed based on details available in FORM GSTR-2B, which is a static ITC statement generated for each month.
— CBIC (@cbic_india) March 15, 2021

Source: TaxScan.

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GST
Mandatory to mention 4/6-digit HSN/SAC Code w.e.f. April 1, 2021

Mandatory to mention 4/6-digit HSN/SAC Code w.e.f. April 1, 2021

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The Central Board of Indirect Taxes (CBIC) issued Notification No. 12/2017-Central Tax dated June 28, 2017, to show specified digits of Harmonised System of Nomenclature (HSN)/ Service Accounting Code (SAC) Code on raising of tax invoices for supply of goods or services as under:

Subsequently, the above notification was amended vide Notification No. 78/2020 – Central Tax, dated October 15, 2020 to mandate 4/6- digit HSN/SAC Code on supply of goods or services on the tax invoices w.e.f. April 1, 2021:

Further, a proviso was inserted to provide that 4- digits of HSN Code is optional in respect of supplies made to unregistered persons i.e., B2C supplies for a registered person having aggregate turnover upto INR 5 crores in the previous financial year.

Thereafter, Notification No. 12/2017-Central Tax dated June 28, 2017 was again amended vide Notification No. 90/2020 – Central Tax, dated December 01, 2020 to provide for class of supply- ‘Chemicals’ whose HSN Code are required to be mentioned at 8-digit on the tax invoices.

Further, it is to be noted that the above changes of mentioning 4/6 Digit HSN/ SAC code, as applicable, are also required to be captured in Table 12 of Form GSTR-1 (i.e., details of outward supplies of goods or services) and therefore, corresponding changes are made in the same.

Furthermore, it is very important to mention the correct HSN/ SAC Code on the tax invoices and Form GSTR-1 as penalty of INR 50,000/- (INR 25,000/- each for CGST and SGST) can be levied for non-mentioning or mentioning wrong HSN/ SAC Code under Section 125 of the Central Goods and Services Tax Act, 2017 (i.e., General penalty).

However, it is to be noted that there are many disputes w.r.t. classification of the various goods and services like sanitizers, railway parts, fryums etc. Further, the disputes are also going on as to whether classification as per Notification No. 1/2017- Central Tax (Rate) dated June 28, 2017 (“Goods Rate Notification”) should be in line with explanation (iii) and (iv) of said notification vide which it is provided that “Tariff item”, “sub-heading” “heading” and “Chapter” in the Goods Rate Notification shall mean tariff item, sub-heading, heading and chapter as specified in the First Schedule to the Customs Tariff Act, 1975 (“CTA”) and that rules for the interpretation of the First Schedule to the CTA including the Section and Chapter Notes and the General Explanatory Notes would be apply to the interpretation of the Goods Rate Notification which provides only 1,208 goods approx. as against more than 12,000 products under First Schedule of the CTA.

Source: Taxguru.

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GST invoice
CBIC clarifies Applicability of Dynamic QR Code on B2C Invoices

CBIC clarifies Applicability of Dynamic QR Code on B2C Invoices

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The Central Board of Indirect Taxes and Customs (CBIC) notified the clarification in respect of applicability of Dynamic Quick Response (QR) Code on B2C invoices and compliance of notification 14/2020- Central Tax dated 21st March 2020.

The Notification No. 14/2020-Central Tax, dated 21st March 2020 had been issued which requires Dynamic QR Code on B2C invoice issued by taxpayers having aggregate turnover more than 500 crore rupees, w.e.f. December 1, 2020.

Further, vide Notification No. 89/2020- Central Tax, dated 29th November 2020, penalty has been waived for non-compliance of the provisions of Notification No.14/2020 Central Tax for the period from 1st December, 2020 to 31st March, 2021, subject to the condition that the said person complies with the provisions of the said Notification from 01st April, 2021.

The Board has received various references from trade and industry seeking clarification on applicability of Dynamic QR Code on B2C (Registered person to Customer) invoices and compliance of Notification No. 14/2020-Central Tax, dated 21stMarch, 2020 as amended.

The issues have been examined and in order to ensure uniformity in the implementation of the provisions of the law across the field formations the Board, in the exercise of its powers conferred under section 168(1) of the CGST Act, 2017, clarified various issues.

Firstly, notification No 14/2020- Central Tax dated 21st March, 2020 is applicable to a tax invoice issued to an unregistered person by a registered person (B2C invoice) whose annual aggregate turnover exceeds Rs.500 Crores in any of the financial years from 2017-18 onwards.

However, the said notification is not applicable to an invoice issued in cases where the supplier of taxable service is an insurer or a banking company or a financial institution, including a non-banking financial company; a goods transport supplying services in relation to transportation of goods by road in a goods carriage; supplying passenger transportation service; agency supplying services by way of admission to exhibition of cinematography in films in multiplex screens and OIDAR supplies made by any registered person, who has obtained registration under section 14 of the IGST Act 2017, to an unregistered person.

As regards the supplies made for exports, though such supplies are made by a registered person to an unregistered person, however, as e-invoices are required to be issued in respect of supplies for exports, in terms of Notification no. 13/2020-Central Tax, dated 21st March 2020 treating them as Business to Business (B2B) supplies, Notification no. 14/2020- Central Tax, dated 21st March 2020 will not be applicable to them.

Secondly, CBIC clarified that Dynamic QR Code, in terms of Notification No. 14/2020-Central Tax, dated 21st March 2020 is required, inter-alia, to contain the information namely Supplier GSTIN number, Supplier UPI ID, Payee’s Bank A/C number, and IFSC, Invoice number & invoice date, Total Invoice Value and GST amount along with breakup i.e. CGST, SGST, IGST, CESS, etc. Further, a Dynamic QR Code should be such that it can be scanned to make a digital payment.

Thirdly, if the supplier has issued invoice having Dynamic QR Code for payment, the said invoice shall be deemed to have complied with Dynamic QR Code requirements.

In cases where the supplier, has digitally displayed the Dynamic QR Code and the customer pays for the invoice Using any mode like UPI, credit/ debit card or online banking or cash or combination of various modes of payment, with or without using Dynamic QR Code, and the supplier provides a cross reference of the payment (transaction id along with date, time and amount of payment, mode of payment like UPI, Credit card, Debit card, online banking etc.) on the invoice ; or in cash, without using Dynamic QR Code and the supplier provides a cross reference of the amount paid in cash , along with date of such payment on the invoice;

The said invoice shall be deemed to have complied with the requirement of having Dynamic QR Code.

Fourthly, if the cross reference of the payment made using such electronic modes of payment is made on the invoice, the invoice shall be deemed to comply with the requirement of Dynamic QR Code. However, if payment is made after generation / issuance of invoice, the supplier shall provide Dynamic QR Code on the invoice.

Fifthly, if cross reference of the payment received either through electronic mode or through cash or combination thereof is made on the invoice, then the invoice would be deemed to have complied with the requirement of Dynamic QR Code.

In cases other than pre-paid supply i.e. where payment is made after generation / issuance of invoice, the supplier shall provide Dynamic QR Code on the invoice.

Lastly, the provisions of the notification shall apply to each supplier/registered person separately, if such person is liable to issue invoices with Dynamic QR Code for B2C supplies as per the said notification.

In case, the supplier is making supply through the E-commerce portal or application, and the said supplier gives cross-references of the payment received in respect of the said supply on the invoice, then such invoices would be deemed to have complied with the requirements of the Dynamic QR Code. In cases other than pre-paid supply i.e. where payment is made after generation/issuance of the invoice, the supplier shall provide a Dynamic QR Code on the invoice.

Source: Taxscan.

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GST
GST officers to immediately suspend taxpayer’s registration for ‘significant anomalies’ in sales return

GST officers to immediately suspend taxpayer’s registration for ‘significant anomalies’ in sales return

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GST officers will immediately suspend registration of taxpayers whose sales return or GSTR-1 forms show “significant differences or anomalies” from the return filed by their suppliers, a move aimed at curbing tax evasion and safeguarding revenues.

The Central Board of Indirect Taxes and Customs (CBIC) has issued a Standard Operating Procedure (SOP) for suspension of registration of a person on observance of such discrepancies /anomalies which indicate violation of the GST Act.

As per the SOP, the registration of specified taxpayers shall be suspended and system generated intimation for suspension and notice for cancellation of registration in form GST REG-31, containing the reasons of suspension, shall be sent to such taxpayers on their registered e-mail address.

The registration would be suspended in cases where a comparison of the returns furnished by a registered person with the details of outward supplies furnished in form GSTR-1, or the details of inward supplies derived based on the details of outward supplies furnished by his suppliers in their GSTR-1, show ‘significant differences or anomalies’, indicating contravention of the provisions of the GST Act.

“Till the time functionality for FORM REG-31 is made available on portal, such notice/intimation shall be made available to the taxpayer on their dashboard on the common portal in Form GST REG-17.

“The taxpayers will be able to view the notice in the ‘View/Notice and Order’ tab post login,” the SOP said.

Goods and Services Tax (GST) officers have already intensified their drive against fake invoicing and this has also contributed to increase in tax collections in the past couple of months.

GST collections have crossed the ₹1 lakh crore mark for four consecutive months and surged to an all-time high of about ₹1.20 lakh crore in January.

The SOP further said the taxpayers whose registrations are suspended would be required to furnish reply to the jurisdictional tax officer within 30 days from the receipt of such notice / intimation, explaining the discrepancies / anomalies and the reasons as to why their registration should not be cancelled.

Reply has to be sent to the jurisdictional officer through the common portal within 30 days from the receipt of notice / intimation.

In case the intimation for suspension and notice for cancellation of registration is issued on ground of non-filing of returns, the said person may file all the due returns and submit the response, the SOP added.

Source: Economic-Times.

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IGST
GST: CBIC extends Sanction for pending IGST Refund Claims on GSTR-1 and GSTR-3B mismatch error

GST: CBIC extends Sanction for pending IGST Refund Claims on GSTR-1 and GSTR-3B mismatch error

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The Central Board of Indirect Taxes and Customs (CBIC) notified the extension of Sanction for pending IGST refund claims where the records have not been transmitted to ICEGATE due to GSTR-1 and GSTR-3B mismatch error.

The Board has received several representations in respect of IGST refunds which are pending due to mis-match of data between GSTR-1 and GSTR-3B.
The resolution to the problem was provided by the Board, as an interim measure, vide Circular No. 12/2018-Cus dated May 29, 2018 read with Circular No. 25/2019-Cus dated August 27, 2019 in respect of Shipping Bills filed upto March 31, 2019.

The CBIC said that the IGST refunds relatable to the Shipping Bills filed after 31.03.2019 having mismatch error between GSTR-1 and GSTR-3B could not be processed.

It was noted that a substantial number of IGST refunds are stuck due to above error as functionality to amend GSTR-3B return is not available so far, there is a need to extend the facility as provided vide above Circular No. 12/2018-Cus dated May 29, 2018 and 25/20199-Cus dated August 27, 2019 in respect of the Shipping Bills filed after March 31, 2019 as well.

The CBIC has decided that the solution provided in the Circular 12/2018-Customs read with Circular No. 25/2019-Customs would be applicable mutatis mutandis for the Shipping Bills filed during the financial year 2019-20 and 2020-21 i.e. in respect of all Shipping Bills filed/ to be filed upto March 31, 2021.

The CBIC stated that the corresponding CA certificate evidencing that there is no discrepancy between the IGST amount refunded on exports in terms of this Circular and the actual IGST amount paid on exports of goods for the period April 2019 to March 2020 and April 2020 to March 2021 shall be furnished by 31st March, 2021 and 30th October 2021, respectively.

“The concerned Customs Zones shall provide the list of GSTINs, who have availed benefit under Para 3A & 3B of said circular and yet have not submitted the CA certificate to the Board by the 15th April 2021 for the IGST refunds relatable to financial year 2019-20 and by 15th November, 2021 for financial year 2020-21,” the CBIC said.

Source: Taxscan.

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