FINALIZATION OF PROVISIONAL ASSESSMENT
Para 2 (C)
Bill
Business Processes for GST on Refund Process
Report on – Business Processes for GST on Refund Process – [August 2015]
2 (C) FINALIZATION OF PROVISIONAL ASSESSMENT:
As discussed in Para No. (I) below, the issues relating to provisional assessment being presently followed by Central Tax Authorities would be handled by the system of issuance of debit and credit notes, therefore refund may not arise in such cases. The process has been delineated here under, if the GST Law provides for continuance of the system of provisional assessment:
i) In the proposed GST regime the returns of the taxpayer will be electronically filed. In the return itself there should be a field for
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er may be issued which will also mention the amount that the taxpayer is required to pay or is eligible for refund.
v) The refund would be granted only if the incidence of GST paid by him has not been passed on to the consumer (the concept of unjust enrichment). This issue would be examined by the assessing officer at the time of finalization of assessment.
vi) The model GST Law may provide for appropriate provisions relating to the principle of unjust enrichment.
vii) For satisfying the requirement of unjust enrichment, the taxpayer would be required to submit a Chartered Accountant's Certificate certifying the fact of non-passing of the GST burden by the taxpayer, being claimed as refund. GST Law Drafting Committee may prescribe a thre
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