Recently the goods and service tax network issued an advisory for all the taxpayers who are set to file tax returns for multiple tax periods. This advisory was done in the presence of doubts by taxpayers on filing returns.
According to the advisory notified, there will be a complete list of points to go through while filing GST refunds for multiple tax period.
In the 8 points, there is a procedure for filing GST refunds as it also clarifies the segments and relevant tax period details on which the refund claims would be justified.
Let us check out all those Advising points for filing refunds for multiple tax periods:
- The GST refund filing application for multiple tax periods will be validated on the given conditions:
- Export of Goods & Services-Without payment of Tax
- The claim by recipient /supplier of deemed exports
- Supplies made to SEZ Unit/SEZ Developer-Without payment of Tax
- Supplies made to SEZ Unit/SEZ Developer-With payment of Tax
- Export of services with payment of tax
- ITC accumulated due to the inverted tax structure
- Refund application Form GST-RFD-01A is required for filing the GST refund application including tax period range
- There are the certain limitation on the multiple tax period filing an application
- Only a single financial year is allowed in the selection of multiple tax period
- The whole application has to be sequential for the tax period and a “No Refund Application” is to be provided
- The refund application statement template must include the invoice details compulsorily by the taxpayers in order to claim the refund. The uploaded statement will be further validated by the system
- The invoice details are required to be given in the single statement, while the taxpayer is not at all asked to upload the multiple statements for different periods individually.
- The taxpayer would not be able to claim the refunds after the filing of the refund application as the system will be locking the invoice for the refund claimed in the application and also note that the taxpayer will not be able to modify or change the invoice details after the refund claim.
- Maximum 4 documents are allowed to be attached with the GST refund filing application in pdf format and 5MB size
- The GST refund application Form GST-RFD-01A along with the statement and documents uploaded must be given to the jurisdictional tax officer for the processing and review purpose.
Source: https://www.gst.gov.in/newsandupdates
