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...
Contention of the learned counsel for the Revenue that the Act vests the power in the respondents to take measures for recovery of tax, interest & the penalties that have fallen due does not come to the rescue of the Revenue; existence of power is one thing and its exercise is another; the existence per se does not justify the exercise; no case is made out for excluding an opportunity of hearing to the Assessee before making the impugned order.
Taxpayers while filing refund application will now be given an alert, if they wish to file NIL refund application or not, so that they do not inadvertently file NIL refund claim. It may be noted that once refund is filed, taxpayers can’t change the particulars of the refund application, even if they have some refund […]
Recently, CBIC issued the circular number 131/1/2020-GST in which the standard operating procedure (SOP) to be followed by exporters has been described; 1. This Circular has been issued to verify the existence of exporters and mitigate the risk of fraudulent refund of IGST paid through utilizing the ITC which was availed on the basis of […]
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.
Exporters have already been paid IGST refund of over Rs.1.12 lakh Crores and over 83,500 exporters have been benefited by these refunds. This shows that the government’s efforts to fast track refunds under GST especially to exporters are yielding results. Refunds of only Rs. 3,604 Crores are pending with Customs and out of about 185,000 […]
How to claim refund of Input Tax Credit and tax paid on exports of goods or services Here, we aim to discuss the new procedures around claiming refund of GST for businesses engaged in export of goods or services. Earlier due to the unavailability of electronic fund module on common portal, a temporary mechanism was […]
In the existing GST return filing system, dealers with Turnover up to Rs.1.5 crore in the previous year or anticipating turnover up to Rs.1.5 crore in the current financial year, are eligible to file their GSTR 1 – returns on a Quarterly basis. The due dates being 31st July, 31st October, 31st January, 30th April.
DGGI-MZU has arrested one Shri Tejas Desai on Saturday (December 14, 2019) for fraudulently availing input tax credit of Rs. 41.15 crores without any supply of goods and services and only on the strength of bogus invoices. The arrested person had claimed Rs. 38.55 crores as IGST refund against exports.
A number of companies applied for a Goods & Services Tax (GST) refund since the introduction of the tax regime. As on 02.12.2019, a total of 1,86,158 entities have filed 36,42,272 refund applications, out of which 34,46,010 refund applications have been finalised.
In recent times IGST refund on exports is being suspended by the customs department to some of genuine exporters also on a ground that some exporters are claiming IGST refunds fraudulently by bogus ITC bills or fraudulent ITC claims. In this article we are analyzing the legality of such withholding of refunds & the implication of interest in such cases to genuine exporters.
