The Central Board of Indirect Taxes and Customs vide its notification dated 10th June 2020 has issued a clarification allowing refund of accumulated ITC in respect of invoices whose details aren’t reflected in the FORM GSTR-2A of the applicant.
CBIC has decided that the refund of the accumulated ITC will be restricted to the invoices where the details are uploaded by the supplier in GSTR 1 and are reflected in GSTR 2A of the applicant.
CBIC in its earlier circular dated 31st March 2020 has granted ITC refund even in respect of the credit availed on strength of missing invoices (not reflected in GSTR 2A), uploaded by applicant along with the refund application. However ITC refunds now have been restricted to only invoices reflecting in GSTR 2A.
Further, this circular will not be applicable to ITC refunds availed on invoices/documents related to imports, ISD Invoices & inward supplies liable to Reverse Charge, etc. The treatment of ITC Refunds for these invoices will continue to be the same as before.
Click here to read the notification.
