How are GST refund processed? The Goods and Services Tax (GST) system allows taxpayers to claim a refund for various reasons, such as excess tax paid, input tax credit (ITC) accumulation, export of goods and services, or when a taxpayer is not liable to pay GST in certain circumstances. The GST refund process is designed […]
How are GST refunds claimed? GST refunds in India are governed by provisions in the Central Goods and Services Tax Act, 2017 (CGST Act) and Rules framed under the Act. Refunds are issued to taxpayers to prevent undue accumulation of taxes and to provide relief in cases like exports, excess payments, or zero-rated supplies. 1.
What is the time limit for claiming a GST refund? Under the Central Goods and Services Tax (CGST) Act, 2017, the time limit for claiming a GST refund is two years from the “relevant date.” This provision ensures that taxpayers submit their refund claims within a reasonable period to maintain compliance with GST laws. Relevant
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