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GST Official Refund Procedure: All You Need to Know

GST Official Refund Procedure

There are various rules and regulations which have emerged in the GST refund process. The GST refund will be needed to maintain under the GST as even a slight delay in the refund process will impact the working capital and cash flow of the manufacturers and exporters. In the current scenario, there is a delay in refunds extending for months by making refunds available to the concerned manufacturers and exporters, and to get the refunds, it is a challenge as there are strict rules and regulations for the processing of refunds.

Latest Update

23rd December 2021

“CBIC has showcased an advisory related to the Aadhaar authentication for filing of GST refund/Revocation of cancelled applications of registration from 1st January 2022. Read more

9th December 2021

The high court of Madras state prolonged time of limitation and relief to traders on goods and services tax refund claims. read order

18th May 2021

Compulsory to Match Invoices for Exporters GST Refund Issues

Numerous exporters are facing problems in claiming ITC (Input Tax Credit) as the government made it compulsory to match GST Invoices for the claim. Experts say that the situation is the result of late fees waiver of certain forms for companies and suppliers. Under several cases, exporters were unable to claim ITC as forms were not submitted. A corresponding invoice is to be uploaded on the GST portal claiming ITC. All the invoices should be reflected in form GSTR- 2A Find out the full procedure and functionalities of GSTR 2A form with the help of Gen GST software version 2.0. The process is showcased by a simple PDF format. Read more

There are Various Situations for Refund under GST like:

Read Also: How to File GST Refund Claims Manually? Step by Step Guide Know how to file GST refund claims manually by using GST refund form RFD-01A. We have explained step by step procedure in a brief manner. Read more

There is an Official Refund Process under the GST:

Trending Topic: Do You Know about GST E-Way Bill and How it Will Generate? Get to know about GST E Way bill and its generating process through online and SMS in a simple manner. Also, we have attached original screenshots of official E way bill portal for better understanding. Read more

Delay in Refund and its Process

Subramanian committee suggested along with the defined GST laws and regulations, that the refund application must be entertained within the period of 90 days and must be processed in the same time period. If in any case the application could not be processed within the given time framework, there is a 6 percent of interest recommended along with the refund amount.

It was also mentioned by the Nirmala Sitharaman (finance minister) who cleared that the refund process will be done within the period of 7 days and if the process gets late for more than 2 weeks then the refund will be provided along with the interest.

It is speculated that the process of refund application will be fast and smooth due to its digital dependability. Also, the data will be uploaded electronically which depicts that the verification and the detailed analysis of the refund application will be quick.

Latest Updates and News on GST Refund Topic

GST Refund in Hilly Areas Under Scanner

Taxpayers in hill area and stations are set to approach the court against revenue department which has found a reversal of transitional credit benefited by them on account of cash balance available in the ledger ahead of GST implementation in the country.

The department has not distributed the available GST refunds to producers and manufacturers of hilly states. Previously before GST implementation, under the area-based exemption scheme, the manufacturers were provided with tax concessions.

The department now mentions that the transitioning provision available under newly implemented indirect tax regime was referred only to the excess credit available with the taxpayers, and it did not apply to the ledger for cash balance.

Furtherly, finance secretary also mentioned that the Cash credit can not undergo into GST as only Input Tax Credit can be accountable for transition under GST regime.

GSTN Intends to Launch Online Application for Refunds

The GSTN organization also under inclusion to launch an online application to process refunds. Chief Executive Officer Prakash Kumar stated that “A separate online app for claiming Integrated GST refunds for August and September would be made available on GSTN portal.” The application will be giving facilities like save and upload sales data of the GSTR 1.

The automated process will be also there to assist in which the data will be extracted and will be to the customs department after digital signature. The details will be validated by the department and further refund process will be initiated accordingly.

GST Refund Advice for Taxpayers

Follow Not Follow
Only browse official GST portal website – www.gst.gov.in for refunds Beware to reply any fake message of GST refund process
Read here to know GST refund status: https://www.gst.gov.in/help/refund Leave any attachment or hyperlink in the fake message
Must Remember that GSTN never call for personal information and GST refund details on email, WhatsApp or SMS The taxpayers should never fill any personal details and other contact details on other websites
Continually browse official GST portal for new updates Never dial at the phone number that is mentioned in the fake message
Any query please use GST helpdesk – 1800-103-4786. Do not believe other similar design websites instead of the official portal

General Queries on GST Refund

Q.1 – What in case if taxpayer miss shipping and invoice bill in a month, can he add the details in subsequent month and get a refund?

Yes, a taxpayer can add the details in subsequent month and can get the refund.

Q.2 – Does GSTR 2 and GSTR 3 needs to be filed for claiming refunds?

If the taxpayers have filed GSTR 1 and GSTR 3B than he doesn’t need to fill other forms to claim refunds.

Q.3 – Is the taxpayer eligible to claim refunds on IGST paid on exports of goods if he has filed GSTR 3B?

Yes, the taxpayer is eligible to get the refunds to claim if he has provided the details of export goods details in GSTR 1 Table 6A and has filed GSTR 3B with relevant tax details

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