The Central Board of Indirect Taxes and Customs vide circular dated 5th July, 2022 has issued the Central Goods and Services Tax (Amendment) Rules, 2022.
The amendment provides that when a registered person deposits the amount of erroneous refund sanctioned to him along with interest and penalty, wherever applicable, through FORM GST DRC-03, by debiting the electronic cash ledger, on his own or on being pointed out, an amount equivalent to the amount of erroneous refund deposited by the registered person shall be re-credited to the electronic credit ledger by the proper officer by an order made in FORM GST PMT-03A.
CBIC has provided through notification that the period from the 1st day of March, 2020 to the 28th day of February, 2022 is excluded for computation of period of limitation for issuance of order for recovery of erroneous refund.
The amendment has further clarified that when an application for refund of integrated tax paid on the goods exported out of India is filed, If there is any mismatch between the data furnished by the exporter of goods in Shipping Bill and those furnished in statement of outward supplies in FORM GSTR-1, the application shall be deemed to have been filed on such date when such mismatch in respect of the said shipping bill is rectified by the exporter.
