GST Refund Simplified- GST Refund Consultant

The GST Refund as per the Goods and Services Tax (GST) Act, 2017 means the amount or sum that a the person receives back upon the occurring and happening of a particular event. In the term of taxation parlance, the GST Refund Process is a procedure to claim any an amount that is due to the taxpayer with the taxation administration or authority. This amount is to be refunded by the authority to the taxpayer because such tax amount has been paid in excess or for any other viable reason prescribed in the CGST Act, 2017. Some facts related to the GST Refund Services in India are as follow-

1.       The refunds under the GST nowadays have become an open issue in the country. It is a problematic event for almost all the classes of a taxpayer in India. Basically for the exporter class whose working capital is directly affected by these refund amount.

2.       Several types of GST Refund are provided on account of the following-

·         Deemed Exports

·         Excessive balance left in the Electronic Cash Ledger

·         Excessive tax payments due to inadvertence or mistakes

·         Exports of goods and services by paying the IGST or with the LUT or under Bond

·         Miscellaneous refunds

·         Persons holding a registered Unique Identification Number (UIN)

·         Supplies made to SEZ Developer or SEZ Unit by paying IGST

·         Supplies made under Inverted Duty Structure

Related Articles: Guide to Provisional Refund under GST

3.       Some other reasons where the taxpayer that can hinder the application for GST Refund. These situations areas follows-

·         Mistakes made in the GST Return Filing

·         Mistakes made during the manual filing or online filing

·         Lack of clarity on the refund filing form and procedures.

·         Which proper officer is to interact for the refund process

·         Validations that have been placed on the GST Common Portal

·         Confusion created due to issuance of numerous notifications, forms, documents, press release and clarifications.

Scope of GST Refund in the GST Laws and Provisions:

The term “Refund” has been provided an explanation in Section 54 of the Central Goods and Services Tax (GST) Act, 2017. It includes the following-

·         Refund of taxes on the supply of goods that are considered as deemed exports.

·         Refund of output tax paid on the supplies of goods or services or both that are considered zero-rated.

·         Refund of input taxes on the inputs or input services that have been used in producing or making zero-supplied supplies.

·         Refund of the Unutilized Input Tax Credits due to the inverted duty structure as prescribed in Section 54(3) of the act.

We at Ezybiz India Consulting LLP are a team of professional GST Consultants and GST Refund Consultant helping the clients in Delhi, national and multi-national disciplinary with the GST issues and making refund application hassle-free and with ease. We guide the clients from the very the first step of the process till the refund is obtained.