Goods and Services Tax : Government of India levies and collects duties and taxes from the taxpayers. However, in specified situations, if any amount, whic...
Goods and Services Tax : Navigate the complexities of GST refunds in India with our comprehensive guide to circulars issued from July 2017 to March 2024. S...
Goods and Services Tax : Explore insights into navigating challenges with GST refunds for exporters in India, focusing on Rule 89(4) and Rule 89(4B). Learn...
Goods and Services Tax : Learn about a Delhi HC ruling entitling taxpayers to 6% interest on delayed GST refunds under Section 56 of the CGST Act. Case ana...
Goods and Services Tax : Case of Samsung India Electronics Private Limited versus State of Uttar Pradesh presents a critical examination of disputes arisin...
Goods and Services Tax : CBI arrests Superintendent of Central GST & Central Excise in Berhampur for accepting Rs. 15,000 bribe from complainant regarding ...
Goods and Services Tax : While filing Annual Return GSTR-4, if composition taxpayers have deposited excess tax, they will now be able to file for GST refu...
Goods and Services Tax : Processing of Refund application of tax amount of more than Rs 2 Crore:- All the refund applications where the applicant has cl...
Goods and Services Tax : Important GST Update IFSC of below 8 banks are changed due to merger. Taxpayers may update their Bank Account details through non-...
Custom Duty : CBIC has extended the time limit for sanction of pending IGST refunds in such cases where records have not been transmitted to ICE...
Goods and Services Tax : Explore the Bombay High Court judgment in Sanjeev Suresh Desai Vs Union of India. Analysis of refund application rejection and rem...
Goods and Services Tax : Himachal Pradesh High Court overturns rejection of manual GST refund applications, orders reconsideration under Rule 97A for AMN L...
Goods and Services Tax : Dive into the Gujarat High Courts judgment on Vimla Food Products' plea for IGST refund, exploring the legalities, challenges, and...
Goods and Services Tax : Rajasthan High Court ruling requires proper officers to disclose reasons for rejecting GST refund applications, ensuring procedura...
Goods and Services Tax : Explore the Telangana High Court's judgment on interest under Section 54 of the CGST Act, 2017, for delayed refund of Input Tax Cr...
Goods and Services Tax : Learn how exporters can claim refund of additional IGST paid due to price increases post-export. Details on application process an...
Goods and Services Tax : Circular No. 226/20/2024-GST outlines a procedure for refunding additional IGST paid due to upward price revisions post-export. Le...
Custom Duty : Learn about the IGST refund process for certain tobacco product exports, recent updates, and how to address issues. Get insights f...
Goods and Services Tax : CBIC notifies supplies and class of registered person eligible for refund under IGST Route vide Notification No. 05/2023 – Inte...
Goods and Services Tax : Read Circular No. 197/09/2023-GST from CBIC providing clarification on various issues related to GST refunds. Understand the clari...
CBIC vide Circular No. 137/07/2020-GST has clarified on GST refund if GST has been paid but subsequently Service contract cancelled or goods supplied been returned, Date of TCS Payment, Submission Date of LUT for Financial Year 2020-21, Application for such refund of GST for which two years were expiring on 31.03.2020 etc. Circular No. 137/07/2020-GST […]
GST is an indirect tax which ultimately becomes the revenue of government when the product/service is consumed by the end consumer. Government allows the GST Refund to promote the exports and to make Indian exporters competent to the global market. So, except some exceptional circumstances GST refund is applicable on the exports. Any eligible GST […]
Summary of Clarification on refund related issues vide Circular No.135/05/2020 – GST dt. 31st March, 2020, explaining Bunching of Refund claims across Financial Years, Change in manner of refund of tax paid on supplies other than zero rated supplies, Guidelines for refunds of Input Tax Credit under Section 54(3) and New Requirement to mention HSN/SAC […]
GST Refund vis-à-vis temporary GST registration-CBIC had mentioned 12 categories (one being residuary category) under which refund application has to be filed electronically. One such situation is ‘refund on account of assessment/appeal/any other order’. To file an online refund application, a person must have a GST registration in a state where he/she seeks the refund. However, there are cases when the department granted temporary registration to a person in a state where he/she does not carry out any business. Let us first examine the Rule 16 which is related to suo moto registration.
Bunching of GSt refund claims across Financial Years: i) At the outset, provisions under GST didn’t allowed taxpayer for clubbing of tax period across financial years for claiming refund application. (Say application from Jan’2018 to Dec’ 2018 cannot be filled since it is crossing two financial year.) The same stand was taken in master circular dated 18th Nov 2019 vide Para no. 8.
Decision to process pending refund claims has been taken with a view to provide immediate relief to the taxpayers in these difficult times even though the GST Law provides 15 days for issuing acknowledgement or deficiency memo and total 60 days for disposing off refund claims without any liability to pay interest, all pending refund applications must be taken up for processing immediately.
IT Department to release all pending income tax refunds up to Rs 5 lakhs immediately ; Around 14 lakh taxpayers to benefit. All GST & CUSTOM refunds also to be released ; to provide benefit to around 1 lakh business entities including MSMEs
There is no ambiguity that for every taxpayer provision related to refunds are always most favourite under any Act and GST Act is no different. In fact, every organization designs their business process in such a manner so as to make optimum utilization of the refund provisions With the help of this article, we shall […]
Article analyses Changes in Refund Process vide Circular No. 135/05/2020 dated 31-03-2020 issued by CBIC- 1. Bunching of refund claims across Financial Years: – The restriction on clubbing of tax periods across different financial years was put in vide para 11.2 of the Circular No. 37/11/2018-GST dated 15.03.2018. The said circular was rescinded being subsumed in […]
The board has issued circular no.135/05/2020 dated 31st March 2020 (herein referred as “impugned circular”) to resolve the issues faced by the taxpayers applying for refund and has tried to redress them Let`s analyse the 5 issues, the clarification and its validity in this article: – 1. Clarification on clubbing of months of different financial […]
