Central Board of Indirect Taxes and Customs (CBIC) has issued following clarification on the matter pertaining to claiming of refund of additional IGST paid on account of upwards revision in the price of goods subsequent to exports:

1. It has been represented to the board by trade and industry that there are cases where the price of export goods needs to be revised, subsequent to their exports, due to various reasons such as linking of the prices of the export commodities to some international index or as per the terms of contract between the two parties etc.
2. In such cases, where there is upward revision in price of goods subsequent to exports, the exporter is required to pay additional IGST on account of upward price revision along with applicable interest but there exists no mechanism for allowing them to claim refund of such additional IGST paid
3. The refund of IGST paid on account of export of goods is processed by the proper officer of Customs in an automated manner without manual intervention
4. A new Form GST RFD-01, which an exported may file as an application for refund of such additional IGST, electronically on the common portal.
5. The exporter is required to furnish following documents along with Form GST RFD-01:
   • Copy of shipping bill or bill of exports;
   • Copy of original invoices
   • Copy of contract/ other document(s), as applicable, indicating requirement for the revision in price of such goods subsequent to exports;
   • Copy of the original invoices as well as relevant debit note(s)/ supplementary invoices;
   • Proof of payment of additional IGST and applicable interest and details of the relevant FORM GSTR-1/ FORM GSTR-3B furnished by the applicant in which the said debit note(s)/ supplementary invoice(s) were declared and tax and interest thereon had been paid by the applicant;
   • Proof of receipt of remittance of additional foreign exchange (FIRC) issued by Authorised Dealer-I banks;
   • A certificate of a practising chartered accountant or a cost accountant certifying therein that the said additional foreign exchange remittance is on account of such upward revision in price of the goods subsequent to export;
   • Statement 9A of FORM GST RFD 01; and
   • Statement 9B of FORM GST RFD 01.
6. Minimum amount of refund to be claimed: No refund shall be paid if the amount claimed is less than Rs. 1000.
7. Time limit for filing refund: The claim for refund shall be filed within 2 years from the relevant date as specified in clause (a) of explanation (2) of Section 54 of CGST Act.
8. The proper officer shall scrutinize the application with respect to its completeness and eligibility and only if the proper officer is satisfied that the whole or any part of the amount claimed is payable as refund, he shall proceed to issue the refund sanction order in FORM GST RFD-06 and the payment order in FORM GST RFD-05.