The refund is a cumulative process to return the taxes collected by the assessees in the filing process and here we will see some of the recent changes and amendments introduced by the government in the format of the guidelines for both post-audit as well as the refund claims basis.
The Central Board of Indirect Taxes & Customs (CBIC) has taken out a mechanism concerning the sanction, post-audit, and review of refund claims towards the assessee.
This same complies with various reports that CBIC has obtained in various practices complied through the field formations, making the issues for assessees. The indirect tax body explained that post-audit is to be made only towards the GST refund claims amounting to Rs 1 lakh and exceeding till any other guidelines would be provided.
The officers are required to upload the order as well as the refund sanction order in the GST form while passing the refund orders. The case is been investigated to ensure uniformity and enable the influential tracking of sanction of refund claims to protect the interest of revenue, the board mentioned.
