GST Refund Services in Mumbai Thane

GST Refund Services in Mumbai Thane

GST Refund Or Rebate

Generally when the GST paid is more than the GST obligation a condition of guaranteeing GST refund emerges. Under GST the way toward asserting a refund is institutionalized to maintain a strategic distance from disarray. The system is on the web and time limits have furthermore been set for the same.

Who is able to assert a GST Refund?

  1. Excess GST paid erroneously
  2. Provides to SEZ components and programmers.
  3. Refund of gathered Input Tax Credit due to inverted duty structure
  4. Export of Goods or Service.
  5. Re-fund arising due to Judgment, Decree, Get or Route of the Appellate Authority, Appellate Tribunal or any Court,etc.

Claim GST refund

  • The refund application should be applied from type RFD 01 inside only two years by the appropriate day.
  • The Form must be licensed by a Chartered Accountant.
  • You May file your returns quite easily with Bashmakh & Co
Note: If you get an incorrect GST rebate claim, then you will not be eligible for a refund. It is best to consult Aga & Associates to make sure that you are receiving your refund correctly. If you file an incorrect return, you may also be asked to pay a penalty for processing a claim incorrectly

GST Refund FAQ
1Who can claim refund in GST?

On basic grounds, if you have paid extra GST on the grounds of Wrong calculation then you are eligible for refund. But the topic of refund in GST is very vast and again a CA or CWA is at the rescue. GST refunds are to be assessed well as per rules stated under GST law.Other cases where GST refund could be claimed in case of export supplies,where you have accumulated Input credits.
GST refunds are to be assessed well as per rules stated under GST law. Other cases where GST refund could be claimed in case of export supplies, where you have accumulated Input credits due to reverse Charge mechanism.

2What are the documents required for GST refund?

If Refund applied on account of Exports or supply to SEZ the following documents are required
In case of export of goods:

  • relevant invoice of the transaction
  • a statement containing the number and date of shipping bills
  • or bills of export and the number and the date of the relevant export invoices
In case of export of services:
  • tax invoices,
  • the relevant bank realization certificates evidencing receipt of payment in foreign currency is also required to be submitted.
In case of supply to SEZ:
  • An endorsement from the Proper Officer evidencing receipt of such goods/ services in the SEZ along with the Tax Invoice
  • Declaration from the SEZ unit stating that the applicant yet to avail input tax credit of tax from the supplier
GST Refund for Accumulated Input Tax Credit
  • only a statement containing invoice details as prescribed in the GST refund rules must be submitted.
GST Refund on Account of Order
  • the reference number of the order giving rise to refund should be given along with the relevant tax invoices.

3What is Statement 3 for GST refund?

The statement where one shall report the details of export made without payment of tax while applying for refund.

4What is the process of refund under GST?

Below are the process of refund under GST:

  1. Every taxpayer needs to file a claim of refund in Form GST RFD-01. Once a form is submitted, an acknowledgement gets generated in Form GST RFD-02 for future references and sent to the applicant through email and SMS.
  2. In case the system finds some deficiencies in the refund application, then the same has to be pointed out within 15 days. The proper officer will issue a Form GST RFD-03(deficiency memo) to the applicant pointing out the issues through common portal electronically requiring him to file a fresh refund application after rectification of such deficiencies.
  3. The proper officer, after examination of the claim and the proof submitted in support thereof and on being satisfied that the amount claimed as refund is due to the applicant, shall make a provisional refund order in Form GST RFD-04 , sanctioning the amount of refund due to the said applicant provisionally within 7 days from the date of the acknowledgement.
  4. The proper officer shall issue a payment advice in Form GST RFD-05 for the amount sanctioned, and the same shall be electronically credited to any of the bank accounts of the applicant mentioned in his registration particulars and as specified in the application for refund.
  5. The proper officer sanctions the claim of refund in Form GST RFD-06 if he finds the request in order. The refund has to be sanctioned within 60 days from the date of receipt of application complete in all aspects. If it is not approved within the time, the interest @ 6% p.a. (as notified presently) will have to be paid under section 56 of the CGST Act,2017.

5Can refund be rejected?

When the proper officer is satisfied that the claim is not appropriate or is not payable to the applicant, he shall issue a notice in Form GST RFD-08 to the applicant requiring him to furnish a reply in Form GST RFD-09 within 15 days of the receipt of such notice. After consideration of the applicant's response, the office can accept or reject the refund claim and pass an order accordingly.

6If the refund claim is less than Rs. 2 Lakhs

A self-declaration by the applicant to the effect that the incidence of tax has not been passed to any other person will suffice to process the refund claim.

7For refund claims of Rs. 2 Lakhs and more

A certificate from a Chartered Accountant/Cost Accountant will have to be given.
However, the declaration above/certificate is not required to be furnished in the following cases:

  • refund of tax paid
    - on the export of goods and services or
    - on inputs or input services used in making such exports
  • refund of unutilised ITC as per Sec 54(3);
  • refund of tax paid on a supply which is not provided, either wholly or partially, and for which invoice has not been issued, or where a refund voucher has been issued
  • refund of tax paid on a transaction treating it to be an intra-state supply, but which is subsequently held to be an inter-state supply or vice-versa
  • the tax or interest borne by a notified class of applicants