GST Refunds on Exports: Transitional Credits from Previous Laws Excluded from 'Net ITC' Calculations.
Circulars
GST
Refund of GST – exports of goods and services – the transitional credit pertains to duties and taxes paid under the existing laws viz., under Central Excise Act, 1944 and Chapter V of the Finance Act, 1994, the same cannot be said to have been availed during the relevant period and thus, cannot be treated as part of \u2018Net ITC\u2019.
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