REFUNDS
“Refund” includes refund of tax paid on zero-rated supplies
of goods or services or both or on inputs or input services used in making such
zero-rated supplies, or refund of tax on the supply of goods regarded as deemed
exports, or refund of unutilised input tax credit as provided under sub-section
(3).
Refund in certain cases
1.The Government may, on the
recommendations of the Council, by notification, specify any specialised agency
of the United Nations Organisation or any Multilateral Financial Institution
and Organisation notified under the United Nations (Privileges and Immunities)
Act, 1947, Consulate or Embassy of foreign countries and any other person or
class of persons as may be specified in this behalf, who shall, subject to such
conditions and restrictions as may be prescribed, be entitled to claim a refund
of
2. Excess payment of tax is made due to mistake or omission.
3. Dealer Exports (including deemed export) goods/services under claim
of rebate or Refund
4. ITC accumulation due to output being tax exempt or nil-rated
5. Tax Refund for International Tourists
6. Finalization of provisional assessment
7. Inverted rated supply of goods and services
Time limit for Refund of Tax
Any person claiming refund of any
tax and interest, if any, paid on such tax or any other amount paid by him, may
make an application before the expiry of two years from the relevant date in
such form and manner as may be prescribed:
Provided that a registered
person, claiming refund of any balance in the electronic cash ledger in
accordance with the provisions of sub-section (6) of section 49, may claim such
refund in the return furnished under section 39 in such manner as may be prescribed.
A specialised agency of the
United Nations Organisation or any Multilateral Financial Institution and
Organisation notified under the United Nations (Privileges and Immunities) Act,
1947, Consulate or Embassy of foreign countries or any other person or class of
persons, as notified under section 55, entitled to a refund of tax paid by it
on inward supplies of goods or services or both, may make an application for
such refund, before the expiry of six months from the last day of the quarter
in which such supply was received.
Document required
1.
GST RFD 01
2.
copy of refund application acknowledgement
3.
Copy of relevant GSTR-3B and GSTR-1
4.
Cash Ledger and Credit Ledger
5.
payment receipt of the relevant period
6.
cancelled cheque and bank statement
7.
GSTR REG-06
8.
copy of ID proof of proprietor
9.
Self-declaration
10.
all the document shall be signed and stamped
11.
attached a Annexure for working of refund
Interest on delayed refunds
If any tax
ordered to be refunded under sub-section (5) of section 54 to any applicant is not
refunded within sixty days from the date
of receipt of application under sub-section (1) of that section, interest
at such rate not exceeding six per cent.
If any order passed by an
Appellate Authority and the same is not refunded within sixty days from the
date of receipt of application filed consequent to such order, interest at such
rate not exceeding nine per cent.
(1)
Explanation – For the purposes of this section,
where any order of refund is made by an Appellate Authority, Appellate Tribunal
or any court against an order of the proper officer under sub-section (5) of
section 54, the order passed by the Appellate Authority, Appellate Tribunal or
by the court shall be deemed to be an order passed under the said sub-section
(5).
Utilisation of Fund
(1) All
unutilised credited fund shall be used by the government for the welfare of the
Consumers.
(2) The Government shall specified to maintain
proper and separate account and prepare an annual Statement of accounts in such
form as may be prescribed in consultation with the Comptroller and Auditor General
of India(CAG).
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