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Description

This book serves as a comprehensive guide to understanding the norms for claiming refunds in GST and handling litigation pertaining to GST refunds.

The book intends to serve as a guide for all professionals, including CA, CS, CWA, Advocates, GST Practitioners, and their interns/articles involved in advisory, compliance, and litigation service to their clients.

The Present Publication is the 7^th Edition, authored by Aditya Singhania. It is amended by the Finance Act 2022 & updated till 30^th April 2022, with the following noteworthy features:

• [Detailed Analysis on each type of Refund & Procedures] which includes the following:
  • Refund of excess payment of tax
  • Excess balance in cash ledger
  • Refunds on account of export on payment of IGST and under LUT
  • Refunds on account of supply to/by SEZ
  • Deemed exports
• [Detailed Analysis of Import & Export Procedures] including:
  • Duty Drawback in the GST era
  • EoU in GST
  • Budgetary Support Scheme
• [Graded Analysis] starting from the basics, going up to explaining the issues involved in seeking refunds, with the help of the following:
  • GST Notifications
  • Clarifications issued by the CBIC
  • Case Laws from the Supreme Court & High Courts
  • Advance Rulings from AAAR & AAR
• [Lucid Language & Tabular Presentation] has been used for a concrete understanding of the subject
• [Comprehensive Coverage with Relevant Illustrations] for doing a detailed analysis of GST refunds

The detailed contents of the book are as follows:

• Introduction to GST Refunds
• Refund Procedures
• Excess Payment of Tax Due to Mistake of Inadvertence
• Excess Balance in Electronic Cash Ledger
• Export & Import Procedures
• Export of Goods and/or Services on Payment of IGST
• Export under Bond or Letter of Undertaking
• Deemed exports
• SEZ Refund Procedures
• Inverted Tax Structure
• Assessment, Provisional Assessment – Finalization of Provisional Assessment, Appeal and any other Order
• Purchases made by Embassies or UN Bodies or Persons Notified under section 55
• Miscellaneous Refunds
• Scheme of Budgetary Support (Refund)
• Financial Assistance (Refund) under ‘Seva Bhoj Yojana’

Product description

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There are concerns being raised about growing pendency of GST Refunds. Exporters arereassured that there is no le-tup in the sanction of GST refunds. The disposal rate is consistently improving month-on-month. As on 31^st October, 2018, total GST refunds to the tune of Rs 82,775 crore have been disposed by Central Board of Indirect Taxes and Customs (CBIC) and the State authorities out of the total refund claims of Rs 88,175 crore received so far. Thus, the disposal rate of 93.8 % has been achieved as on 31.10.2018. The pending GST refund claims amounting to Rs. 5,400crore are being expeditiously processed so as to provide relief to eligible exporters. Refund claims without any deficiency are being cleared expeditiously.

In case of IGST refunds, about 93.27 % (Rs 42,935 crore) of the total IGST refund claims (Rs. 46,032 crore) transmitted to Customs from GSTN as on 31^st October, 2018 have already been disposed. The remaining claims amounting to Rs.3,096crore are held-up on account of various deficiencies which have been communicated to exporters for remedial action.

In the case of RFD-01A (ITC Refund) claims, out of the total refund claims of Rs. 42,145 crore the pendency as on 31^st October, 2018 is Rs 159 Crore with the Centre and Rs 2,146 crore with the States. Provisional/Final Order has been issued in case of refunds amounting to Rs. 34,602 Crore. In claims amounting to Rs. 5,239 Crore, deficiency memos have been issued by respective GST authorities.

Efforts are being made continuously to clear all the pending refund claims, where ever requisite information is provided and found eligible. Co-operation of the exporter community is solicited to ensure that they respond to the deficiency memos and errors communicated by Centre and State GST as well as Customs Authorities and also exercise due diligence while filing GSTR 1 and GSTR 3B returns as well as Shipping Bills.

Related Post

GST Refund : Free Study Material

Refunds of GST have been a concern for the Government and Trade for the past several months.  In this regard, the CBIC has observed two special drives cum refund fortnights in the Month of March, 2018 (15th to 31st March, 2018) and June, 2018 (31st May to 16th June, 2018) respectively. These refund fortnights have provided a lot of relief to the trade. In the 1^st refund fortnight, Rs. 4265 Crore IGST refunds and Rs. 1136 Crore ITC refunds were sanctioned by field formations of CBIC. Similarly, during the 2^nd refund fortnight, Rs. 6087 Crore IGST refunds and Rs. 1548 Crore ITC refunds were sanctioned by CBIC. In case of IGST refunds for goods exported out of India, the percentage of amount of refund claims disposed by CBIC is already more than 90%.

However, in order to liquidate pendency further, and to handhold/guide the trade for applying for the refund claims in a proper manner, it has been decided to observe another refund fortnight from 16^th July, 2018 to 30^th July, 2018. Dedicated refund cells and helpdesks would be provided for exporters to get their refund claims processed, in each Commissionerate.

The exporters and export organizations are requested to take benefit of this opportunity to get their pending refund claims processed. The facility to view reasons for pending IGST refunds have been provided on ICEGATE. As the IGST refund procedure is designed for seamless electronic processing if sufficient and correct details are filed by the exporter, so Export organisations and Export Promotion Councils must come forward to assist exporters in observing the correct procedure to file refund claims and in rectification efforts in the case of errors.

Related Post on GST Refund

• GST Refunds – Analysis 
• List of Documents required for GST Refund Processing
• GST Special Refund Fortnight from 31.05.2018 to 14.06.2018 : Press Release 30.05.2018
• No refund of GST Challan payment if wrong GSTIN mentioned
• GST Refund Application (By Embassies/ International Organizations)
• How to file GST Refund Application (By Embassies/ International Organizations) user manual
•  GST Refund of Excess amount from Electronic Cash Ledger : FAQ’s
• GST Refund on Export of Goods (With Payment of Tax) : FAQ
• GST Refund of Export of Services (With Payment of Tax)
• GST Refund of ITC paid on Exports without payment of Integrated Tax : FAQs
• GST Refunds Process in India – Analysis after CGST & IGST Act 2017
• How to File GST Refund Manually in India : Steps
• GST Refund of Supplies made to SEZ Unit/ SEZ Developer (Without Payment of Tax)
• GST Refund on Account of Supplies made to SEZ Unit/ SEZ Developer (With Payment of Tax)
• GST Refund of ITC accumulated due to Inverted Tax Structure (RFD-01A)
• GST Refund for Recipient of Deemed Export : FAQs and Process
• GST Refund of Assessment/Provisional assessment/ Appeal/ Any Other Order
• How to file LUT (letter of Undertaking ) online on GST Portal
• How can I view the submitted Letter of Undertaking (LUT) at the GST Portal?
• Filing of Letter of Undertaking for Export of Goods or Services : FAQs

GST Refunds (Amended upto 17-4-2018) (April 2018 Edition) Paperback – 2018

Refer other New GST Books