India Customs Agency Issues Circular Clarifying Procedures for Claiming GST Re-Credit in Electronic Credit Ledger

The Indian Central Board of Indirect Taxes and Customs July 6 issued Circular No. 174/06/2022, clarifying procedures for claiming the GST re-credit in the electronic credit ledger when a taxpayer pays back refund amounts paid to them in excess or error. The circular includes: 1) categories of refunds for which Form GST PMT-03A can be used to re-credit; 2) procedures to re-credit the refund amount in the electronic credit ledger, including penalties and interest; and 3) a model written request to re-credit the amounts when paid back using Form GST DRC-03. [India, Central Board of Indirect Taxes and Customs, 07/06/22] ...