CBIC issues clarification on various refund related issues, clarifies non-admissibility of accumulated ITC on input services/capital goods

CBIC provides clarification on various refund related issues, does away with the requirement of physical submission of all documents/undertaking/statements along refund claim in FORM GST RFD-01A post ARN generation allowing applicant to submit it online; Explains that term “Net ITC” covers ITC availed on all inputs in the relevant period, irrespective of their rate of tax while same can be said to have been “availed” when entered into electronic credit ledger of regis...