COMPARATIVE ANALYSIS OF REFUND OF TAX IN REVISED GST LAW-PART-I:- Goods and Services Tax – GST – By: – Pradeep Jain – Dated:- 19-12-2016 – DAILY DOSE OF GST UPDATE BY CA PRADEEP JAIN COMPARATIVE ANALYSIS OF REFUND OF TAX IN REVISED GST LAW-PART-I:- Earlier old GST Law, the limitation of two years for filing refund claim was not applicable for amount paid under protest. This provision has been deleted in the revised GST Law thereby meaning that there will be no mechanism for paying tax under protest. A new provision for refund of tax by specialised agency of United Nations Organisation or any Multilateral Financial Institution or Embassy of foreign countries has been inserted which provides that such persons shall be entitled to refund of ta
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t. But, in revised GST Law, refund of unutilised input tax credit shall be allowed in cases of exports including zero rated supplies, in case of inverted duty structure but not in case of nil rated of fully exempt supplies. A new proviso has also been inserted to clarify that the refund of unutilised input tax credit shall not be allowed if the supplier of goods or services claims refund of output tax paid under IGST Act, 2016. This implies that the refund of unutilised credit will be allowed only in cases where the export is done under bond. If the export is done under rebate claim then the refund of unutilised credit will not be allowed. There is also change in provision regarding grant of refund claim on provisional basis. As per old GST
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if it is proved that the incidence of duty has not been passed on to other person. The concept of unjust enrichment is not applicable in certain situations like refund of tax on goods or services exported, refund of unutilised input tax credit etc. Now, a new clause has been added wherein refund of tax paid on a supply which is not provided, either wholly or partially and for which invoice has not been issued will also be sanctioned to the supplier and the principle of unjust enrichment would not apply in such cases. This provision is also beneficial to the assessees claiming refund of tax paid on supply which is cancelled or partially provided. We will discuss some other amendments made in the provisions relating to refund of tax in revis
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