🚀 Day 9 Refund under GST Charts + Q&A + Circulars (Sec 54–58) IDT Sahaj Revision 2025 CA/CMA Final

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🔥 Welcome to Day 9 of IDT Sahaj Revision 2025!
In this session, we cover the most technical and exam-important chapter – Refund under GST, explained using smart charts, formulas, recent circulars, and practical Q&A for CA/CMA Final.

📌 Topics Covered:

✅ Section 54 – Refund Scenarios
• Exports, SEZ, Inverted Duty, Deemed Export
• Refund of advance tax, excess tax, and cash ledger
• Wrong classification (inter vs intra)
• Zero-rated refunds with LUT or IGST route
• Time limit: 2 years from relevant date

✅ Rule 89 – Refund Formula
• Zero-rated Formula (Rule 89(4))
• Inverted Duty Formula (Rule 89(5))
• Net ITC, Adjusted Turnover & Exclusions

✅ Provisional Refund & Final Refund Orders
• RFD-04, RFD-06, RFD-05, RFD-08, RFD-09
• Interest @ 6% / 9% for delayed refunds
• Aadhaar Authentication & Re-credit via PMT-03

✅ Special Refund Scenarios
• Upward Price Revisions (RFD-01 with Remarks)
• Refund for UN, Embassies, CSD (Rule 95 & 95B)
• Refunds for Unregistered Buyers & Tourists
• Export Without Realization – Extensions by Circular

✅ Refund Circulars
• Circulars 125/44/2019, 135/05/2020, 197/09/2023
• Latest: Circular 226/20/2024 – Upward Price Adjustments

✅ Section 56–58 – Interest & Consumer Welfare Fund
• Interest @ 6% or 9%
• Refund Orders & Withholding (RFD-07 Part A/B)
• Deposits to Consumer Welfare Fund

Tags
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CA Final IDT
CMA Final IDT
Refund under GST
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Rule 89 GST
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RFD 06 GST
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GST Revision Nov 2025
CA Mayank Trivedi