CBIC clarifies on various refund related issues
CBIC has clarified on various refund related issues. It has clarified that the limit of Rs. 1,000 for refund shall be applied for each tax head separately and not cumulatively. The limit would not apply in cases of refund of excess balance in the electronic cash ledger. Further, it has also clarified that show-cause-notices are not required to be issued where deficiency memos have been issued.