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GST which means Goods and Service Tax. It is indirect taxation levied on the goods and services used by the consumers. The goods & services tax was introduced in 2017 by the Indian government under the “one nation, one tax” reform. The main purpose of the GST reform was to merge different types of taxes in the context of single-tax taxation and to make one tax one nation.

GST is levied for every purchase an individual makes based on the slab rates and the categories specified by the central and state governments. If it is found that the taxpayer has paid the GST tax in excess of the actual amount of the GST tax to be paid. The taxpayer will be qualified to claim his/her refund before or on the GST refund due date. The application can be filed through a suitable GST refund filing format, which is clarified below in this article.

There are certain major situations when you can claim GST refunds. These are as follows- Excess balance in Electronic Cash Ledger On Account of Export of Services -With Payment ofTax In case of supplies made to SEZ Unit/SEZ Developer (With tax payment). Exports of goods/services (Without tax Payment), i.e.olp’, Input tax credit Accumulated) Input tax credit collected due to inverted tax Structure (clause(ii) section 54(3) In case of supplies made to SEZ Unit/SEZ Developer (Without tax payment) In case of a refund due to Deemed Export On account of Assessment /ProvisionalAssessment/Appeal. Excess payment of tax

There are multiple events where one can be eligible to get a GST refund. In such cases, they would need to download the right form and fill in the details accordingly if the situation is any one of the following: You can claim the GST refund when an extra amount of liable GST has already been paid than the actual amount as GST due to a mistake in the calculation. You can claim a GST refund in case of an export transaction that applies a cumulative balance of input credits. This is applicable also in the case of a rebate claim by the exporter. In case the provisional assessment shows that you are eligible to claim a refund. You can claim the amount paid as GST for articles that are exempted from tax, or a lower tax rate is charged, which results in input credit accumulation in GST leaders. This amount will be claimable for GST refunds. In case you have done a submission of a deposit against an appealing mail made by the respondent, you will get that refund after the appeal is disregarded or fixed. In case a product is procured from the partners of the United Nation or a foreign embassy, can claim a GST refund. GST is levied based on the invoices raised and has been introduced to ensure a smooth way of collecting taxes from the manufacturer and exporters.

Following are the documents that are required to submit for GST refund– If claiming for export In the case of export GST refund, an individual is required to furnish the documents such as relevant invoices pertaining to the transaction. a statement including the number, the date of shipping bills, bills of export, and the date of the relevant export invoices, in a case where the refund is on account of the export of goods, must also be provided. If claiming on supply to SEZ If a supplier wants to claim a GST refund for an SEZ unit, then s/he will be required to provide an endorsement from the Proper Officer evidencing receipt of such services or goods in the SEZ along with the tax invoice. Moreover, the applicant needs to produce a declaration from the SEZ unit expressing that the applicant has yet to avail ITC of tax from the supplier. If claiming on Account of Order To the claim of GST refund in case of any order or judgment of appellate authority/court, the reference number along with the relevant tax invoices of the order giving rise to refund must be furnished. If claiming on Accumulated ITC If any individual wants to go to claim a GST refund only for the accumulated input tax credit (ITC), only a statement containing invoice details as prescribed in the GST refund rules must be submitted. It's important to note that no refund of the unutilized input tax credit will be allowed on CGST and IGST paid, in case of the supply of services for the construction of a civil structure, complex, building, including a complex or building aimed for sale.

Taxpayers are required to fill up the refund application RFD 01 Form which is to be submitted via electronically within two years from the respective date. The applicant should provide the refund application certified by a Cost Accountant or Chartered Accountant if the amount of refund exceeds Rs 2 lakhs. The application of your GST refund may undergo either inspection or an audit, as the case may be. Once approval of the refund application is done, the taxpayer shall obtain the GST refund amount claim in the registered bank account.