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How long does it take to get your GST refund?
Any taxpayer who has paid extra tax in the form of interest, penalty fees or anything else can file an application for GST Refund. The application form for claiming GST refund is FORM GST RFD-01 which can be filed via the official GST Portal or a GST Facilitation Centre.
When can I claim GST Refund?
The GST Refund can be claimed under the following circumstances: -
- Export of goods or services
- Supplies to SEZs units and developers
- Deemed exports
- Refund of taxes on purchase made by UN or embassies etc.
- Refund arising on account of judgment, decree, order or direction of the Appellate Authority, Appellate Tribunal or any court
- Refund of accumulated Input Tax Credit on account of inverted duty structure
- Finalisation of provisional assessment
- Refund of pre-deposit
- Excess payment due to mistake
- Refunds to International tourists of GST paid on goods in India and carried abroad at the time of their departure from India
- Refund on account of issuance of refund vouchers for taxes paid on advances against which, goods or services have not been supplied
- Refund of CGST & SGST paid by treating the supply as intra-State supply which is subsequently held as inter-State supply and vice versa
What is the process of GST Refund?
- GST laws have made standardised procedure for processing a GST refund claimed by the traders/ dealers from across the Country. All GST refund applications have to be filed online, in a standardised form on the official GST Portal.
- The claim for refund of amount in the credit balance can be made while filing GST Return monthly. On filing a GST refund application, an acknowledgement for refund application would be provided within 14 days, if the refund application is accepted.
- On receiving a GST refund request, the concerned Officer, is required to convey the status of the application within 14 days. If there are any discrepancies in the application, the GST refund request would be sent back to the applicant along with the list of discrepancies and the applicant can refile the application.
- If the application is error free, the GST refund will be processed and it will be sanctioned within a period of 60 days from the date of receiving the. {Please check the complete line } Officers are also not allowed to issue deficiencies memo after the period of 14 Days, during which they are required to process the GST refund application.
