CBIC rescinds extending time limit for refund by UIN entities
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- Last Updated on 30 September, 2022
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Notification No. 20/2022–Central Tax dated September 28th, 2022
The CBIC has rescinded Notification No. 20/2018-CT which prescribed the extended time limit of eighteen months from the last date of the quarter in which such supply is received for refund by UIN entities. This notification had become irrelevant due to amendment introduced by Finance Act, 2022.
The Finance Act 2022 has amended the time-limit and it has been provided that refund claim can be made till the expiry of 2 years from the last day of quarter in which such supply was received. Hence the time limit for refund claims on inward supply by UIN holders has been increased from 6 months to 2 years from the last day of quarter in which such supply was received.
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