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GST Refund​

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GST Refund

Situations when GST refund is to be granted in cash ?

Situation 1) Exports supplies of goods & services with payment of IGST (exports without LUT)

Situation 1)  Exports supplies of goods & services with payment of IGST (exports without LUT)

In this situation such  IGST paid through ITC   is refunded in cash in linked bank account of registered person by following appropriate refund procedure

Situation 2) Exports supplies of goods & services without payment of IGST (exports with LUT)

In this situation refund of INPUT TAX CREDIT (UNUTILIZED ITC of INPUTS & INPUT SERVICES USED FOR MAKING SUCH EXPORTS SUPPLIES) in cash in linked bank account of registered person by following appropriate refund procedure shall be granted

Situation 3) Supplies of goods & services with payment of IGST to SEZ (exports without LUT)

In this situation such  IGST paid through ITC  is refunded in cash in linked bank account of registered person by following appropriate refund procedure

Situation 4) Supplies of goods & services without payment of IGST to SEZ (exports with LUT)

In this situation refund of INPUT TAX CREDIT (UNUTILIZED ITC of INPUTS & INPUT SERVICES USED FOR MAKING  SUPPLIES TO SEZ) in cash in linked bank account of registered person by following appropriate refund procedure shall be granted

Situation 5) Domestic Supplies of goods & services where supplier is covered under inverted tax structure

Where rate of gst paid on inputs (18%) are higher than gst chargeable on outputs (12%), such situation is called as inverted tax structure.

In this situation after making payment of output tax liability certain amount of input tax credit  is always remain unutilized after every tax period & it gets accumulated as & when registered person files its GSTR 3b. due to this a large amount of such registered person gets duly stucked in his electronic credit ledger.

As per gst law such unutilized ITC is refunded in cash in linked bank account of registered person by following appropriate refund procedure subject to such conditions & restrictions as may be prescribed.

Situation 6) Intra –state supply wrongly categorized as Inter-state supply (IGST paid wrongly)
Or
Inter-state supply wrongly categorized as Intra state supply (CGST & SGST wrongly paid)

 

Above situation is very commonly faced by several tax payers. Refund of such wrong paid GST is refunded in linked bank account of registered person

Situation 7) Double GST paid on single supply transaction due to mistake or inadvertence is to be refunded in linked bank account of registered person.

Situation 8) Advance payment received & gst is also paid on such advance but later on no supply was made then such paid gst on advance is required to be refunded in linked bank account of registered person.

Situation 9) Provisional assessment requested for 18% gst on output butu when assessment gets finalized on less than 18 % (i.e. 12%) then such excessive paid gst is to be refunded in linked bank account

Situation 10) Registered person paid gst @ 5%on its output. Investigation occurs at its premises.At the time of investigation assesse deposits additional gst of 7% during investigation but at the time of finalization of investigation no or less liability arises then such excessive paid gst is to be refunded in linked bank account of registered person.

Situation 11) Registered person paid gst @ 5% on its output. Proper officer scrutinized the gst returns of  such person and raised demand order  for differential GST of 7%. Assessee went into appeal after submitting required pre deposited amount for differential dues and won the appeal then such pre-deposited  gst is to be refunded in linked bank account of registered person.

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