Goods and Services Tax : The article explains that GST refunds depend on correct statutory classification, documentation, and timelines. It highlights that...
Goods and Services Tax : Learn the statutory framework governing GST refunds under Section 54 of the CGST Act, including eligibility, filing procedures, do...
Goods and Services Tax : The Delhi High Court held that the amended limitation provision under Section 54 cannot be applied retrospectively to deny refund ...
Goods and Services Tax : Section 54(3) permits refund of unutilised ITC for zero-rated supplies and inverted duty structures. The key takeaway is that refu...
Goods and Services Tax : GSTN has permanently removed PDF-based Annexure-B filing for ITC refund claims and made the Excel-based Offline Utility compulsory...
Goods and Services Tax : The representation highlights ambiguity in whether the ₹2.5 crore ITC threshold should be annual or cumulative. It emphasizes th...
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-...
Goods and Services Tax : Orissa HC held that refund cannot be refused merely because the State might appeal, where no appeal or proceeding was pending on t...
Goods and Services Tax : The Bombay High Court held that the 2019 amendment to Section 54(1) of the GST Act applies prospectively and does not govern refun...
Goods and Services Tax : Delhi High Court ruled that the amendment restricting Explanation 2(e) applies prospectively and cannot take away vested refund ri...
Goods and Services Tax : The Telangana High Court declined to examine the merits of GST refund rejection orders and directed the taxpayer to avail the stat...
Goods and Services Tax : The Tribunal held that procurement strategy, supplier oversight, and sourcing support formed part of a substantive procurement ser...
Goods and Services Tax : GSTN resolved a technical issue for QRMP taxpayers on the GST Portal. Refund applications can now be filed, provided GSTR-3B for r...
Goods and Services Tax : Learn about recent GSTN changes for refund filing on service exports with tax, SEZ supplies with tax, and deemed export supplier r...
Goods and Services Tax : GSTN announces changes to the refund process for deemed export recipients, removing chronological filing and modifying the refund ...
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...
CBIC vide Circular No. 135/05/2020 – GST dated 31st March, 2020 issued Clarification on GST refund related issues which includes Bunching of refund claims across Financial Years, Refund of accumulated input tax credit (ITC) on account of reduction in GST Rate, Change in manner of refund of tax paid on supplies other than zero rated […]
GSTN Issued Advisory on Tracking GST Refund Application Status on the GST Portal and PFMS portal Initially, the functionality to track the status of GST refund application has been available on the GST common portal at www.gst.gov.in only. Now, the Public Financial Management System (PFMS) of the Controller General of Accounts (CGA) has also made […]
The functionality to track the status of refund application has been available on the GST portal. By utilising this functionality, the taxpayers can know the stage at which the refund application is pending with the tax-officer/ taxpayer.
Under section 16 of IGST Act 2017, exports are considered as zero rated supplies. Zero rated supplies means where the GST burden on both inputs and outputs is zero. This is mainly to make Indian Goods and Services competitive in the international market. GST Act has prescribed ways to achieve this mainly. 1. Export of […]
For Exporter, refund of GST is available under Section 54 of CGST and SGST Act. Refund is available in following cases 1) IGST paid on Zero rated supplies 2) Tax paid on inputs for Zero rated supplies (Export supplies) 3) Inverted Duty Structure 4) If taxable person has paid excess tax by mistake 5) Excess […]
As per 89(4) of CGST Rules, in case of zero rated supply of goods or services or both without payment of tax under bond or letter of undertaking in accordance with the provisions of section 16(3) of the IGST Act, refund of input tax credit shall be granted as per following formula :- Refund Amount […]
Duty Drawback provisions are made to grant rebate of duty or tax chargeable on any imported / excisable materials and input services used in the manufacture of export goods. The duties and taxes neutralized under the scheme are (i) Customs and GST in respect of inputs and (ii) GST in respect of input services. Duty […]
1. Deferment of the new GST return system and e-invoicing to 1st October 2020. The present return system (GSTR-1, GSTR-2A & GSTR-3B) will be continued until September 2020. 2. Changes in the GST rates GST on mobile phones and specified parts was increased from 12% to 18%. All types of matches have been rationalised to […]
As you are aware, several cases of monetization of credit fraudulently obtained or ineligible credit through refund of Integrated Goods & Service Tax (IGST) on exports of goods have been detected in past few months. On verification, several such exporters were found to be non-existent in a number of cases. In all these cases it has been found that the Input Tax Credit (ITC) was taken by the exporters on the basis of fake invoices and IGST on exports was paid using such ITC.
The all empowered GST Council (GSTC) had its 39th meeting on 14th March, 2020. The meeting deliberated with a three pronged focus, viz, changes in law and procedure for trade facilitation, GST rates rationalization and I.T. facilities. The GSTC also took certain decisions to defer the new facilities/utilities and/or extend the due dates and date […]
