What are scenarios to claim your GST refunds?

  • Blog|GST & Customs|
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  • By Taxmann
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  • Last Updated on 29 January, 2021

Claim Refund in GST:

GST was introduced as more effective and efficient way to charge taxes on manufacturers and exporters. This does not only include an efficient way to charge taxes but it also has an efficient flow of getting GST refunds when a taxpayer has been charged an extra amount. GST flows freely based on invoices and is proven to be less cumbersome than past tax laws. The new GST tax structure allows its users to get their GST refunds in almost no time by allowing systematic checking of the GST levied to the person or the entity.

When are you eligible for GST refund?

There could be various cases or events where one would be liable to get GST refunds. An exhaustive list of these cases is listed below to help you know if you could apply for GST refunds or not. You need to go through your transaction details to realize that whether you are eligible for GST refunds or not.

When you have an export transaction or a deemed export transaction where you have a cumulative balance of input credit or there is rebate claim in process for such export transaction then you get your GST refund as per GST refund for exporters.
● When due to some miscalculations you have made an extra GST payment then also you are eligible for GST refunds.
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● When you have paid your GST payment for items which were exempted from taxes and thus you have a total input credit accumulated in GST ledgers then also you are eligible for GST refunds.
● When you have a GST claim for refund as per the provisional assessment done by your charted accountant then also you get GST refunds.
● When you have submitted a deposit against an appeal mail by the respondent, then you shall get that amount refunded after the appeal is resolved or dissolved as part of your GST refunds.
● When adjudicating, officer have found an input credit in your GST claims ledger then that amount shall furnish as your GST refunds.
● GST refunds can be given to foreign embassies or United Nation’s partners when somebody buys a product from them, as per the current governing rule.
● When a person is selling goods at lower tax rates and is paying at higher tax rate then he is eligible for a GST refunds.
GST Payment which is made by foreign nationals or international tourists is liable to be refunded.
To claim your GST refunds, you need to follow a stringent GST refund process. The government will not make your GST payment just like that. You must fill in a GST Refund Form called RFD-01 which is prepared by a Chartered Accountant to claim your GST refunds. The GST refunds will not be made for GST claims which are less than one thousand rupees. The GST Refund form need to be filled and submitted within 2 years from the “relevant date” of GST refund scenario. There is complete list which suggests the “relevant date” for different GST scenarios to process your GST refunds.

Disclaimer: The content/information published on the website is only for general information of the user and shall not be construed as legal advice. While the Taxmann has exercised reasonable efforts to ensure the veracity of information/content published, Taxmann shall be under no liability in any manner whatsoever for incorrect information, if any.

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