English | Series #1 | Refunds Vs. GSTR2B | 50th GST COUNCIL MEETING UPDATES

Series #1 - Refund vs. GSTR2B
50th GST council meeting dt 11.07.2023

Starting the series on a positive note, which is none other than "REFUNDS" in any tax law! But even refund doesn't always seeming to be positive with more complications in Indian GST law.

This video is to get insights on latest update from GST council on "Refund vs. GSTR2B" issues.

For the complete official press release:

Relevant para in page 4:
"5. Circular to be issued to clarify various refund related issues:
a. Consequent to amendment in rule 36(4) of CGST Rules 2017 with effect from 01.01.2022, refund of accumulated input tax credit (ITC) under Section 54(3) of CGST Act, 2017 for a tax period to be restricted to ITC on inward supplies reflected in FORM GSTR-2B of the said tax period or any previous tax period."

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[caa.sreenivasarao]

Excellerly explained the list of complications involved with clarity 😊