Goods and Services Tax – GST – By: – Sanjeev Singhal – Dated:- 10-3-2017 Last Replied Date:- 10-3-2017 – Procedure of Refund in GST is time bound and if not paid in time will be subject to interest. It seems to be simple . Circumstances are defined under which tax payer shall be eligible to file for refund and same shall be process a per the prescribed law. Refund of GST is prescribed in Section- 48 of the Revised GST Law. Applicability and Procedure Any person may make an application to the proper officer of IGST/CGST/SGST for refund of Tax and Interest, if any amount paid by him before the expiry of two years from the relevant date. But any taxable person , claiming any refund of any balance in electronic cash ledger u/s 44[6], may claim the same in return filed u/s 34. Any specialized agency of United Nation Organisation , consulate or embassy of foreign countries or any multilateral Financial Institution or Organization or any person or class of person notified under u/s 49, may c
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realization certificate or copy of FIRC. Documentary or such other evidence to substantiate that such tax and interest has not been passed on to any other person. A statement in Annexure -1 of Form -GST RFD-1 containing the no. and date on invoices received and issued during tax period in case where the claim is for refund of any unutilized ITC u/s 48[3]. It is further provided that if the refund claim is less than Rs.. 5 lacs, the above documentary evidences are not necessary. In that case, applicants by his own self declaration that incidence of tax and interest thereon has not been passed on to any other person. In case refund claim is ₹ 5 lacs or more, Annexure -2 of the Form -GST RFD-1 shall be signed by Chartered Accountant or Cost Accountant to the effect that such tax and interest has not been passed on to any other person. On receipt of application , the proper officer if satisfy, may pass the order for credit of whole or part of the refund and the amount may be credite
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here the claim pertains to refund from Electronic cash ledger ,the proper officer shall provide the Form- GST RFD-2 to the applicant as acknowledgement on the common portal. Claims other than electronic cash ledger, application shall be forward to proper officer who will examine the correctness of the application within 15 days of filing and acknowledge the same on Form-GST RFD -2 clearly stating the date of filing the application. Where any deficiency is noticed, the proper officer shall intimate the same on Form- GST RFD-3 to the applicant. to avoid the holding of capital of exporters, it has been provided to refund the 90% of the claim with in 7 days of the acknowledgment of claim. And will pass Order on Form -GST RFD-4 to the effect [ This has been approved by GST Council on March 4,2017 as well. The proper officer shall issue Form -GST RFD -8 mentioned the amount to be credited to applicant Bank. Relevant Date as mentioned above In case of export of goods out of India. In case of
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