GST Refund Application

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meaning of GST refund

GST law prescribes certain circumstances on occurrence of which the refund may arise. On happening of this circumstances, taxpayer may proceed to file for GST refund. The events which leads to GST REFUND are listed below.

what are the circumstances under which refund may arise

  1. Refund of Excess Balance in Electronic Cash Ledger
  2. Refund of ITC on Export of Goods & Services without/with Payment of Tax
  3. On account of supplies made to SEZ unit/ SEZ developer (without/with payment of tax)
  4. Refund on account of ITC accumulated due to Inverted Tax Structure
  5. On account of Refund by Recipient of deemed export
  6. Tax paid on an intra-State supply which is subsequently held to be inter-State supply and vice versa
  7. Excess payment of tax
  8. On Account of Assessment/Provisional Assessment/Appeal/Any other order
  9. Any other (specify)0

What is the time limit within which GST Application refund must be applied

Refund is to be filed within 2 years from relevant date.

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when the GST paid is more than the GST liability a situation of claiming GST refund arises. The structure of GST encapsulates some of the situations that triggers the GST REFUND.

1) Excess payment of GST: Date of payment 2) Export or deemed export of goods or services: Date of despatch/loading/passing the frontier 3) ITC accumulates as output is tax exempt or nil-rated: Last date of financial year to which the credit belongs 4) Finalizations of provisional assessment: Date on which tax is adjusted

YES, if the refund claimed is amounting to more than Rs. 2 Lacks, then certificate from Practicing Chartered accountant is required to submit physically along with REFUND application.

YES, the status of GST Refund application can be tracked using its acknowledgment (FORM GST RFD 02)number called ARN on GST COMMON PORTAL.

Provisional Order for GST REFUND is to be issued in Form GST RFD 04. Final order of GST REFUND application is to be issued in GST RFD 05.

The refund below Rs. 1000 (One Thousand Only) can not be claimed.

RFD-07: this is a show cause notice for complete rejection of a refund application RFD-08: Payment advice RFD-09: In case of delayed payments, this is an order for interest on late payments.

1) Refund of Excess Balance in Electronic Cash Ledger 2) Refund of ITC on Export of Goods & Services without/with Payment of Tax 3) On account of supplies made to SEZ unit/ SEZ developer (without/with payment of tax) 4) Refund on account of ITC accumulated due to Inverted Tax Structure 5) On account of Refund by Recipient of deemed export 6) Tax paid on an intra-State supply which is subsequently held to be inter-State supply and vice versa 7) Excess payment of tax 8) On Account of Assessment/Provisional Assessment/ Appeal/Any other order 9) Any other (specify)

YES, GST REFUND application is to be filed online by taxpayer on official website of GST i.e on GST COMMON PORTAL.

Usually, GST jurisdictional officer to whom the GST REFUND application is submitted, shall approve the provisional refund upto 90% of the amount claimed within 7 days from the date on which refund application is submitted. If the gst jurisdictional officer found an error or requires more information or explanation regarding the application received, then he/she may ask for further information or documents in support of his/her queries.

GST RFD 01 is the form of GST REFUND APPLICATION.

If there is any discrepancy found in GST REFUND application, then jurisdictional officer can issue deficiency memo in Form GST REFD 03 to the applicant asking certain information or documents in support of the REFUND APPLICATION.

GST RFD 05 is to be issued within 60 days from the date on which application for refund is made.

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