GST Registered companies are allowed to file for GST refunds for the excess GST input credits or payment. There are different categoriesfor applying the GST Refunds:-
- Login Credentials of GST Portal
- Original copy of Sales & Purchase Invoices
- Digital Signature of Authorized signatory
- Audited Balance Sheet of refund period
- Original Letter of Undertaking in case of exporters
Prepare the working of Input and Output Invoices.
Visit the GSTIN Portal and fill the application of Refund claiming form.
The signed copy of application along with requisite documents needs to be submitted to GST Department within 30 days of filing of application.
Once application is approved by the GST Department, they will process the refund.
Yes, we can apply the GST Refund on monthly or quarterly basis
The time limit to apply for GST Refund is 2 years from the relevant date which is defined as under:
| Reason for GST Refund Claim | Relevant Date |
|---|---|
| Finalisation of provisional assessment | Date on which tax is adjusted |
| Export/Deemed Export of Goods | Date of dispatch/passing over border/loading |
| Excess tax paid | Date of tax payment |
| Refund for unutilized ITC | End of Financial Year for which refund is claimed |
| Refund due to order/judgement of courts | Date of issue of court order |
The processing time forthe GST Refund application is 30-60 days from the date of filing of application. In certain cases, the scrutiny of the refund application may take longer time such as in cases when an audit is ordered for any reason.
If there has been a delay in issuing refund to the registered GST holder based on GST payments made previously, the government is liable to pay interest on the refund amount outstanding at 6% per annum along with the refund.
The GST refund amount should be greater than INR 1000 in one application.
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