For claiming refunds under GST, recently the government has observed that nearly 10,000 applications have been filed by exporters till November. GST Network has informed to exporters to make sure that the input tax credit claimed by them must not exceed the GST amount paid in a particular month.
Earlier this month, The CBEC had allowed to those businesses making zero-rated supplies and those have already paid IGST on exports and want to claim the credit on inputs by filling up Form RFD-01A.
Exporters those have already paid IGST and claimed refunds based on shipping bills by filling up Table 6A had started receiving refunds from the Central Board of Excise and Customs (CBEC) since last month.
According to a statement of GST Network, If exporters have issues relating to refund claims, they can consult with the chief commissioner of central tax and the commissioner of state tax. By adding that, “As on November 30, 5,677 applications have already been filed by exporters using RFD-01 and 4,386 applications have been filed by them using Table-6 A of GSTR-1.”
Nearly Rs 6,500 crores had been claimed by exporters in last week within the four months of GST implementation, said the Finance Ministry. For receiving refunds on time, the Ministry had informed to exporters to file claims by filling up form in a proper manner along with shipping bills. The New indirect taxation system was implemented from 1st July across India.
GST Network is an Information Technology (IT) backbone which is handling the activities of the newly implementing new indirect taxation system. According to a GST Network, for claiming refunds of any month, the exporters must have to file initial sales return or GSTR-3B for that particular month.
“The amount of refund claimed in Table-6A should not be more than the amount paid in GSR-3B of that month”, said GST Network. By adding that, exporters must be mentioned the shipping details in Table 6A for claiming refunds.
According to a statement of GST Network, “It is important for the exporters to fill the refund details accurately since the computer system is designed to automatically grant refunds without the involvement of any officer by matching information that is furnished on the GST portal and Customs system”.
