COMPARATIVE ANALYSIS OF REFUND OF TAX IN REVISED GST LAW-PART-II:-
By: – Pradeep Jain
Goods and Services Tax – GST
Dated:- 19-12-2016
DAILY DOSE OF GST UPDATE BY CA PRADEEP JAIN:-
COMPARATIVE ANALYSIS OF REFUND OF TAX IN REVISED GST LAW-PART-II:-
We discuss some other provisions pertaining to refund of tax in revised GST Law as follows:-
A new sub-section 13 has been added in section 48 which states that refund of advance tax deposited by casual or non-resident taxable person shall not be allowed unless they have furnished all returns during their period of registration. Hence, refund of advance tax will be admissible only on filing of returns.
New clauses have been inserted in the meaning of relevant date as follows:-
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chanism for return of goods in factory premises for repairing or reconditioning purpose but the old GST Law specifically mentioned relevant date for filing refund claim in such cases. However, it appears that the government realised the redundancy of the provision and has deleted the same.
A new section 49 has been added for refund of taxes to any specialised agency of the United Nations Organisation or any Multilateral Financial Institution and organisation notified under the United Nations (Privileges and Immunities) Act, 1947.It is possible that the conditions and restrictions may be specified separately for granting refund in such cases. Presently, there is
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