Refund of unutilized ITC in case of inverted tax structure, as provided in section 54(3) of the CGST Act, is available where ITC remains unutilized even after setting off of available ITC for the payment of output tax liability. Where there are multiple inputs attracting different rates of tax, in the formula provided in rule 89(5) of the CGST Rules, the term „Net ITC‟ covers the ITC availed on all inputs in the relevant period, irrespective of their rate of tax.

CBIC clarifies ITC availability for ECOs on Section 9(5) services in Circular 240/34/2024-GST. Learn the rules and compliance steps to stay GST-ready with Finodha.

Learn the key clarifications under Circular 160/16/2021-GST on ITC on debit notes, e-invoice requirements, and refund of accumulated ITC on exported goods.

Understand Circular 165/21/2021-GST on Dynamic QR Code requirements for B2C invoices. Learn exemptions, RBI-approved payments, compliance, and FAQs.

Understand Circular No. 197/09/2023-GST on GSTR-2B refund eligibility, RFD-01 changes, Rule 96A, export refunds, and adjusted turnover.

In exercise of the powers conferred by clause (91) of section 2 of the Central Goods and Services Tax Act, 2017 (12 of 2017) read with Section 20 of the Integrated Goods and Services Tax Act (13 of 2017) and subject to sub-section (2) of section 5 of the Central Goods and Services Tax Act, 2017, the Board, hereby assigns the officers mentioned in Column (2) of the Table below, the functions as the proper officers in relation to the various sections of the Central Goods and Services Tax Act, 2017 or the rules made thereunder given in the corresponding entry in Column (3) of the said Table

Learn Circular No. 205/17/2023-GST on the 5% GST rate for imitation zari thread or yarn, HS 5605 classification, and refund restrictions under GST.

Supply of lottery has been treated as supply of goods under the Central Goods and Services Tax Act, 2017.

Doubts have been raised whether sub-section (3) of section 18 of the Central Goods and Services Tax Act, 2017 (hereinafter referred to as „CGST Act‟) provides for transfer of input tax credit which remains unutilized to the transferee in case of death of the sole proprietor. As per sub-rule (1) of rule 41 of the Central Goods and Services Rules, 2017 (hereinafter referred to as “CGST Rules‟), the registered person (transferor of business) can file FORM GST ITC-02 electronically on the common portal along with a request for transfer of unutilized input tax credit lying in his electronic credit ledger to the transferee.

Learn Circular No. 191/03/2023-GST on GST rates for Rab, classification, pre-packaged supplies, and regularization of past disputes.