The principle of unjust enrichment would be applicable in all cases of refund except in the following cases:- 1. 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 2. Unutilized input tax credit in respect of (i) zero-rated supplies […]
Read allThe IGST refund would not be processed if it fails any validation at the level of either GSTN or Customs system. Validation errors occur due to various deficiencies.
Read allIt has been observed that a number of records have not been transmitted by GSTN to the Customs system which could be on account of various errors that have occurred in the validation carried out by the GSTN. It is understood that cases, where such validations fail, are on account of: 1. Both GSTR 1/Table […]
Read allGSTN is reportedly working on a feedback/message system so as to inform the exporters about such failed validations. At present, the Customs system does not have any information about the reasons for which validation at GSTN has failed. However, for all those records which have been successfully transmitted to the Customs system, the report can […]
Read allIn cases where the exporter has filed correct information in the GST returns and it gets successfully validated by the GSTN, it is thereafter transmitted electronically to the Customs system wherein the GST return data is matched with the shipping bill data. If the matching is successful, ICES processes the claim for refund and the […]
Read allNo. If all the credit claimed are present in GSTR 2A and details of outward supply match with GSTR 1, then there is no need to submit the papers physically. Though the refund amount would be based upon the formula. All the ITC accumulated can be refunded back by what are the documents that I […]
Read allFrom 01.02.2019 the time limit in the case of a refund of unutilised input tax credit under clause (II) of the first provision to section 54(3) is two years from the due date for furnishing return under section 39 for the period in which such claim for refund arises.
Read allYes, by dint of notification no. 5/2017 – central tax dated 28.06.2017 has barred the following category of goods from inverted duty structure: S.NO. Tariff item/heading/sub heading/chapter Description of Goods 1. 5007 Woven fabrics of silk or of silk waste 2. 5111 to 5113 Woven fabrics of wool or of animal hair 3. 5208 to 5212 Woven fabrics […]
Read allAs per explanation 3 of section 54 of the CGST Act, A registered person may claim a refund of unutilised Input Tax Credit (ITC). The ITC on account of inverted tax structure can be claimed at the end of any tax period where the credit has accumulated on account of the rate of tax on […]
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