GST Refund Scenario
By: – GST Cornor
Goods and Services Tax – GST
Dated:- 21-11-2017
INTRODUCTION
Provisions of refund of taxes under GST are very important as delay would adversely impact exporters, manufacturers and dealers. A delay in refund would cause problem for the exporters/manufacturer in maintaining the working capital and cash flow.
Currently there is delay in months in providing the refund to the exporters/manufacturers/dealers
Now due to the non-availability of the refund module on the common portal, it has been decided by the competent authority, on the recommendations of the Council, that the applications/documents/forms pertaining to refund claims on account of zero-rated supplies shall be filed and proces
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und of IGST Paid on Export of Goods
STEPS:
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The shipping bill filed by an exporter shall be deemed to be an application for refund in such cases
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The application shall be deemed to have been filed only when export manifest or export report is filed and the applicant has furnished a valid return in FORM GSTR-3 or FORM GSTR-3B.
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The system designated by the Customs shall process the claim for refund and an amount equal to the integrated tax paid in respect of such export shall be electronically credited to the bank account of the applicant.
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Any order regarding withholding of such refund or its further sanction respectively in PART-B of FORM GST RFD-07 or FORM GST RFD-06 shall be done manually till the refund module is op
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payment of tax
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Supplies made to SEZ Unit/ SEZ Developer with payment of tax
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Supplies made to SEZ Unit/ SEZ Developer without payment of tax (accumulated ITC)
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Excess balance in Electronic Cash Ledger
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ITC accumulated due to inverted tax structure
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Recipient of deemed export
STEPS:
* Printout of FORM GST RFD- 01A needs to be filed manually before the jurisdictional GST officer
* This form needs to be accompanied with the requisite documentary evidences, wherever applicable (Rule 89(2) – Requisite Documents)
NOTE:-
* The refund application for various taxes i.e. CT / ST / UT / IT/ Cess can be filed with any one of the tax authorities
* The payment of the sanctioned refund amount in relation to CT / IT / Ce
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