The GSTN issued Advisory No. 503 dated July 14, 2024, regarding the refund of additional IGST paid due to upward revision in prices of goods after exports. The GST Council has approved that the application for such refund may be processed by Tax Administration, and Notification No. 12/2024-Central Tax dt. July 10, 2024 has been issued in this regard. GSTN is developing a separate category of refund application in FORM GST RFD-01 for this purpose. In the meantime, exporters can claim the refund by filing an application in FORM GST RFD-01 under the category “Any other” with specific remarks and relevant documents as specified in the Circular 226/20/2024-GST dated July 11, 2024. The refund application will be processed based on the submitted documentary proof, and the required accompanying documents are listed in Para 6 of the said Circular.
Source A2ztaxcorp
