Where the refund is withheld under Section 54(11) of the CGST/SGST Act, will the taxable person be given interest?

Where the refund is withheld under Section 54(11) of the CGST/SGST Act, will the taxable person be given interest?
Question 12
Bill
Refunds
Faq On GST (2nd Edition) Dated 31.3.2017
Q 12. Where the refund is withheld under Section 54(11) of the CGST/SGST Act, will the taxable person be given interest?
Ans. If as a result of appeal or further proceeding the taxable person becomes entitled to refund, then he shall also be entitled to interest at the rate notified [section 54(12)

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Can refund be withheld by the department?

Can refund be withheld by the department?
Question 11
Bill
Refunds
Faq On GST (2nd Edition) Dated 31.3.2017
Q 11. Can refund be withheld by the department?
Ans. Yes, refund can be withheld in the following circumstances:
i. If the person has failed to furnish any return till he files such return;
ii. If the registered taxable person is required to pay any tax, interest or penalty which has not been stayed by the appellate authority/Tribunal/ court, till he pays such tax int

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Is there any time limit for sanctioning of refund?

Is there any time limit for sanctioning of refund?
Question 10
Bill
Refunds
Faq On GST (2nd Edition) Dated 31.3.2017
Q 10. Is there any time limit for sanctioning of refund?
Ans. Yes, refund has to be sanctioned within 60 days from the date of receipt of application complete in all respects. If refund is not sanctioned within the said period of 60 days, interest at the rate notified will have to be paid in accordance with section 56 of the CGST/SGST Act. However, in case where

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Whether principle of unjust enrichment will be applicable in refund?

Whether principle of unjust enrichment will be applicable in refund?
Question 8
Bill
Refunds
Faq On GST (2nd Edition) Dated 31.3.2017
Q 8. Whether principle of unjust enrichment will be applicable in refund?
Ans. The principle of unjust enrichment would be applicable in all cases of refund except in the following cases: –
i. Refund of tax paid on zero-rated supplies of goods or services or both or on inputs or input services used in making such zero-rated supplies
ii. Unuti

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Whether purchases made by Embassies or UN are taxed or exempted?

Whether purchases made by Embassies or UN are taxed or exempted?
Question 6
Bill
Refunds
Faq On GST (2nd Edition) Dated 31.3.2017
Q 6. Whether purchases made by Embassies or UN are taxed or exempted?
Ans. Supplies to the Embassies or UN bodies will be taxed, which later on can be claimed as refund by them in terms of Section 54(2) of the CGST/SGST Act. The claim has to be filed in the manner prescribed under CGST/SGST Refund rules, before expiry of six months from the last day

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Suppose a taxable person has paid IGST/ CGST/SGST mistakenly as an Interstate/intrastate supply, but the nature of which is subsequently clarified. Can the CGST/SGST be adjusted against wrongly paid IGST or vice versa?

Suppose a taxable person has paid IGST/ CGST/SGST mistakenly as an Interstate/intrastate supply, but the nature of which is subsequently clarified. Can the CGST/SGST be adjusted against wrongly paid IGST or vice versa?
Question 5
Bill
Refunds
Faq On GST (2nd Edition) Dated 31.3.2017
Q 5. Suppose a taxable person has paid IGST/ CGST/SGST mistakenly as an Interstate/intrastate supply, but the nature of which is subsequently clarified. Can the CGST/SGST be adjusted against wrongly

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Will unutilized ITC at the end of the financial year (after introduction of GST) be refunded?

Will unutilized ITC at the end of the financial year (after introduction of GST) be refunded?
Question 4
Bill
Refunds
Faq On GST (2nd Edition) Dated 31.3.2017
Q 4. Will unutilized ITC at the end of the financial year (after introduction of GST) be refunded?
Ans. There is no such provision to allow refund of such unutilized ITC at the end of the financial year in the GST Law. It shall be carried forward to the next financial year.
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Statute, statutory provisions legislatio

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Can unutilized ITC be given refund, in case goods Exported outside India are subjected to export duty?

Can unutilized ITC be given refund, in case goods Exported outside India are subjected to export duty?
Question 3
Bill
Refunds
Faq On GST (2nd Edition) Dated 31.3.2017
Q 3. Can unutilized ITC be given refund, in case goods Exported outside India are subjected to export duty?
Ans. Refund of unutilized input tax credit is not allowed in cases where the goods exported out of India are subjected to export duty – as per the second proviso to Section 54(3) of CGST/SGST Act.
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Can unutilized Input tax credit be allowed as refund?

Can unutilized Input tax credit be allowed as refund?
Question 2
Bill
Refunds
Faq On GST (2nd Edition) Dated 31.3.2017
Q 2. Can unutilized Input tax credit be allowed as refund?
Ans. Unutilized input tax credit can be allowed as refund in accordance with the provisions of sub-section (3) of section 54 in the following situations: –
(i) Zero rated supplies made without payment of tax;
(ii) Where credit has accumulated on account of rate of tax on inputs being higher than the

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What is refund?

What is refund?
Question 1
Bill
Refunds
Faq On GST (2nd Edition) Dated 31.3.2017
14. Refunds
Q 1. What is refund?
Ans. Refund has been discussed in section 54 of the CGST/SGST Act.
“Refund” includes
(a) any balance amount in the electronic cash ledger so claimed in the returns,
(b) any unutilized input tax credit in respect of (i) zero rated supplies made without payment of tax or, (ii) where the credit has accumulated on account of rate of tax on inputs being higher th

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Under what circumstances can a special audit be instituted?

Under what circumstances can a special audit be instituted?
Question 19
Bill
Assessment and Audit
Faq On GST (2nd Edition) Dated 31.3.2017
Q 19. Under what circumstances can a special audit be instituted?
Ans. A special audit can be instituted in limited circumstances where during scrutiny, investigation, etc. it comes to the notice that a case is complex or the revenue stake is high. This power is given in section 66 of CGST /SGST Act.
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Statute, statutory provisions l

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What would be the action by the proper officer upon conclusion of the audit?

What would be the action by the proper officer upon conclusion of the audit?
Question 18
Bill
Assessment and Audit
Faq On GST (2nd Edition) Dated 31.3.2017
Q 18. What would be the action by the proper officer upon conclusion of the audit?
Ans. The proper officer shall, on conclusion of audit, within 30 days inform the taxable person about his findings, reasons for findings and the taxable person's rights and obligations in respect of such findings.
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Statute, statutory

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What are the obligations of the taxable person when he receives the notice of audit?

What are the obligations of the taxable person when he receives the notice of audit?
Question 17
Bill
Assessment and Audit
Faq On GST (2nd Edition) Dated 31.3.2017
Q 17. What are the obligations of the taxable person when he receives the notice of audit?
Ans. The taxable person is required to:
a) facilitate the verification of accounts/records available or requisitioned by the authorities,
b) provide such information as the authorities may require for the conduct of the au

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What is meant by commencement of audit?

What is meant by commencement of audit?
Question 16
Bill
Assessment and Audit
Faq On GST (2nd Edition) Dated 31.3.2017
Q 16. What is meant by commencement of audit?
Ans. The term 'commencement of audit' is important because audit has to be completed within a given time frame in reference to this date of commencement. Commencement of audit means the later of the following:
a) the date on which the records/accounts called for by the audit authorities are made available to them

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What is the period within which the audit is to be completed?

What is the period within which the audit is to be completed?
Question 15
Bill
Assessment and Audit
Faq On GST (2nd Edition) Dated 31.3.2017
Q 15. What is the period within which the audit is to be completed?
Ans. The audit is required to be completed within 3 months from the date of commencement of audit. The period is extendable for a further period of a maximum of 6 months by the Commissioner.
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Statute, statutory provisions legislation, law, enactment, Acts, Rules,

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