GST DAILY – 370 : Restriction imposed on refund arising due to retrospective insertion of Section 16(5) & (6) wouldn’t apply on pre-deposit amount

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Restriction imposed on refund arising due to retrospective insertion of Section 16(5) & (6) wouldn’t apply on pre-deposit amount

👉 Issue:-

✔️ CORRIGENDUM TO CIRCULAR NO. 237/31/2024-GST dtd 25 Oct 2024

👉 Circular briefing :-

✔️ The CBIC has issued Corrigendum to Circular No. 237/31/2024-GST to clarify that restriction on refund under section 150 of the Finance (No. 2) Act, 2024 will not apply to the refund of an amount paid as pre-deposit by the taxpayer as per sub-section (6) of section 107 or sub-section (8) of section 112 of the CGST Act, at the time of filing of an appeal, where such appeals are decided in favor of the said taxpayer.