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Corporate Laws Central Ministry of Finance Reserve Bank of India Act, 1934

CKYCRR - Corrective Measures for Avoiding Rejection of Incentive Claim

22-Jul-2025 | CKYC/2025/09

CKYCRR has issued corrective measures for avoiding rejection of incentive claim (communique dated 27th June 2025). 1. Incentive claims are being rejected mainly because invoices are either not in the correct format or the details on the invoice do not match what is shown in the CKYCRR system. 2. REs must use the Incentive Invoices screen to view eligible incentive amounts and prepare a tax invoice accordingly. The invoice should match the details (amount including GST) shown on CKYCRR and be submitted for the correct month. 3. A separate tax invoice must be uploaded each month in the prescribed format. Only one invoice per month should be submitted, and it must be complete, accurate, and as per guidelines to avoid rejection. 4. Since incentive payments are taxable: a. TDS at 2% will be deducted. b. REs should upload invoices in their GSTR-1 in a timely manner to help CERSAI claim Input Tax Credit (ITC). Delays can affect future claims. 5. Claims must be submitted within 7 days of the month-end. If rejected, they must be corrected and re-submitted within 15 days to ensure timely payment. 6. A draft invoice format and detailed procedure (Annexure-II) are provided to help REs avoid mistakes and save time. For more information, please refer to the official document.

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