Procedure of disposal of Refund filed in present law under GST
Query (Issue) Started By: – Narendra Soni Dated:- 8-8-2016 Last Reply Date:- 11-9-2016 Goods and Services Tax – GST
Got 4 Replies
GST
Dear experts
\nIn GST Act, procedure of disposal of Refund (excise\/service tax\/VAT) filed in present law is given below:-
\n(i) The refund if allowed would accrue in cash under the earlier law, viz., and would not be credited to the electronic credit ledger or electronic cash ledger.
\n(ii) The refund if rejected, fully or partially would lapse, no credit will be allowed.
\nPlease suggest
\n1.The stage of rejection when the refund will be treated as 'rejected' i.e.rejected by Asst.Commir \/DC or By Commr. (Appeal) or by Jt.Secretory<\/p>\n
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Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n ces which are exported, the exporters would be eligible for refund of unutilized input tax credit. With a view to ensure quick refund, 80% of the refund on account of exports of goods & services will be given expeditiously ,on provisional basis, while balance 20% will be refunded after due verification of documents. For the exporters, the facility of duty free imports\/ procurement of inputs for exports should continue else it will lead to increasing requirement of working capital even for payment of IGST \/CGST\/SGST. This will hit MSME as their cost of capital is quite high, blunting their competitive edge in exports .The exemption will not lead to any loss of revenue as in any case exporters will be entitled to refund which affect their liq<\/p>\n = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n","protected":false},"excerpt":{"rendered":" Procedure of disposal of Refund filed in present law under GST Query (Issue) Started By: – Narendra Soni Dated:- 8-8-2016 Last Reply Date:- 11-9-2016 Goods and Services Tax – GSTGot 4 RepliesGSTDear experts In GST Act, procedure of disposal of Refund (excise\/service tax\/VAT) filed in present law is given below:- (i) The refund if allowed … Continue reading “Procedure of disposal of Refund filed in present law under GST”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-921","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts\/921","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=921"}],"version-history":[{"count":0,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts\/921\/revisions"}],"wp:attachment":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=921"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=921"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=921"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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