ICAI Releases Updated “Handbook on Refunds under GST” (January 2026)
The Institute of Chartered Accountants of India (ICAI) has released the January 2026 edition of its Handbook on Refunds under GST. This updated publication is designed to help taxpayers and practitioners navigate the complexities of claiming refunds in a rapidly evolving digital tax environment.
Key Highlights of the Handbook:
Up-to-Date Legal Provisions: Incorporates all legislative changes, notifications, and circulars issued by the CBIC up to early 2026.
Comprehensive Coverage: Provides detailed guidance on various refund scenarios, including:
Refund of unutilized Input Tax Credit (ITC) due to inverted duty structure.
Refunds on zero-rated supplies (exports of goods/services and supplies to SEZ).
Refund of tax paid on an intra-state supply subsequently held to be an inter-state supply (and vice-versa).
Refund of excess balance in the Electronic Cash Ledger.
Step-by-Step Procedures: Explains the end-to-end process from filing the application in FORM GST RFD-01 to the issuance of the final refund order.
Practical Tools: Includes updated checklists, FAQs, and illustrative examples to reduce errors in documentation and prevent the issuance of deficiency memos.
Judicial Insights: Features a summary of landmark rulings from High Courts and the Supreme Court that have clarified ambiguous refund provisions.
Digital Integration: Covers recent portal enhancements and automated validation checks implemented by the GSTN to speed up processing.
Significance:
As the GST regime shifts toward “seamless compliance,” this handbook serves as a vital resource for ensuring that legitimate refund claims are processed without delay. It aims to bridge the gap between technical law and ground-level execution, supporting the government’s initiative for Ease of Doing Business.
For More :- Read Handbook_on_Refunds_under_GST_January_3rd_2026_Edition_1770731680