The CPC made an adjustment on the basis of the tax audit report, stating that the GST refund was not credited to the Profit & Loss Account. The assessee contended that, as an exporter, GST refund was adjusted against GST receivable and was not required to be routed through the Profit & Loss Account. The Tribunal restored the matter to the Assessing Officer for verification of the GST ledger, refund orders and accounting treatment before deciding the issue. (AY. 2021-22 & 2022-23.)