GST Refund - Page 2

Refund Under GST – Clarifications & Amendments

In case the supplier has paid GST on advances received for a future event which got cancelled subsequently and for which invoice is issued before supply of service. He is required to issue a “credit note” in terms of section 34 of the CGST Act. The tax liability shall be adjusted in the return subject to conditions of section 34 of th...

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5 Actions Industry should take to prepare for new changes in GST Refund

Refunds on Payment of Duty : Cir 22/2020 dt 21st April 2020 1. Numerous Shipping Bills having invoice mismatches between the GST returns data and the customs data are presented along with the Shipping Bills 2. Above mismatches have resulted in SB005 error. This error results in blocking of the IGST refund disbursal on payment […]...

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Eligibility of GST Refund on Account of Deductions

This article is written for analyzing  eligibility of GST refund on account of deductions and the same is analysed with the help of below mentioned case study: Fact: ABC Private Limited has raised B2B Tax invoice of Rs.1 crore to XYZ on 14th January 2019 for the services. In the month of March 2020, XYZ […]...

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Interest from shipping bill date allowed in case of serious delay in effecting refunds

Akay Flavours & Aromatics Pvt. Ltd. Vs CBIC (Kerala High Court)

In case of serious delay in effecting the refunds under GST Act, GST Authority to pay IGST refund alongwith interest from date of shipping bill after following due procedure....

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Refund on Exports under GST: Some overlooked conditions & restrictions

It is a well know policy of government that goods or services can be exported but taxes should not be exported. Under GST law exports of goods and services are treated as Zero rated supply which entitles an exporter to claim refund in terms of Section 16(3) of IGST Act, 2017. He may either claim […]...

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Recent controversies in claiming GST refund & probable solution

In the wake of COVID-19, recently CBIC has come with various notifications and circulars. However, one important aspect in respect of GST refund has remained un-noticed. Here, I have tried to explain the difficulties arise due to amendments and probable solution as well as precautions to be taken: 1. Restriction of “NET ITC” for the [...

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Amendment in Time clause for refund of inverted duty structure

Whether amendment made in section 54 regarding the time clause for refund of inverted duty structure has retrospective effect or not. Summary: An attempt has been made to analyze the impact of change made in clause pertaining to time period prescribed for filling refund application of unutilised input tax credit on account of inverted dut...

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Extension for submission of LUT for 2020-21, GST TDS, Refund claim

Extension for submission of LUT for 2020-21 Notification No. 37/2017-Central Tax, dated 04.10.2017, requires LUT to be furnished for a financial year. However, in terms of notification No. 35/2020-Central Tax dated 03.04.2020, where the requirement under the GST Law for furnishing of any report, document, return, statement or such other r...

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Process of Refund of ITC or IGST paid on export supply of Goods

A person can make the export supply of goods by making payment of Integrated GST and refund can be claimed for the same. Further exports can be made without making payment of IGST after the submission of Bond/LUT. In such cases, a refund of accumulated Input Tax Credit on expenses may arise....

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What are the circumstances where GST is refundable

Is the GST once paid can be claimed back. There are circumstances where GST paid to the government can be claimed back .  There is set procedure which is totally online where registered person can file and claim back the GST. There are two important  aspect of  GST Refund : 1. that under which circumstances […]...

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June 2020