GST payment errors between GSTN and RBI

 

 

What is Goods and Service Tax (GST)

GST, frequently asked Questions


GST payment errors between GSTN and RBI


GST payment errors between GSTN and RBI8. Even if the charge back request for scenario (iii) is received by the acquiring bank before reporting of the transaction to RBI on T+1, the bank should send the claim to GSTN for a response. GSTN should verify its record, and rebut the claim as mentioned in para 7 above. GSTN will have 48 hrs to send its response. In the meantime at T+1 event, the acquiring bank should report the transaction to RBI in normal course. The bank should not hold back the funds. Subsequently when the response is received from GSTN, the bank may either decide to reject the claim (most likely as it is fairly easy to establish that the tax was actually paid to the Government and there was no denial of service) or accept the claim. If the claim is accepted, the process suggested in para 9 below may be followed.

 

9. In case the charge back is accepted after reporting to RBI (either in case of scenario (ii) or in case of scenario (iii) when GSTN’s rebuttal is not accepted) and refund is made by the acquiring bank to the issuing bank, such refund should be reported as a new transaction to RBI. The report to RBI as well as the entry in RBI’s scroll should be as a debit entry identified using the original CPIN. On receipt of such information, GSTN should debit the taxpayer’s ledger and inform the Tax Authorities who should recover the amount from the said taxpayer.

 

 

Click here to know GST rate on Goods and Services

GST Exemption list of goods and services

Find HSN number or Service tariff code for GST

GST registration guidelines

Indian GST Laws

How to export your goods?

Documents required for GST refund for service exporters

Verification of documents for refund of GST to exporters

Refund of GST to Exporter, Documents required to be enclosed

Process of GST refund to Exporter

How to get refund of GST tax paid by an Exporter?

What is GST Tax rate for Exports

GST and Exports, how is taxes reimbursed on Exports?

Adjustment of GST refund amount

Does GST refund amount attract interest? 

How many types of shipping bills in export
How to add Line number in Import General Manifest in Custom in India
Import General Manifest (IGM)
Why prefer exports?
How does a Running bond work?
How does Bill of Lading work in DP payment terms?
Types of Export Containers
Dimension of Cargo Containers
Difference between general dry cargo container and Tank Container
How to import Vinegar,Beverages
Foreign Trade Policy 2014-19 (FTP 2014-19) delayed
Method to import Organic chemicals
How to import Perfumery, toilet preparations, oils
Procedures to Import Clocks, Watches
Why, best attention while preparing Export Invoice?
Why to insure export goods?
What is the earliest date can be mentioned on Bill of Lading. Can BL date and let export date be same day?
How to obtain Phyto sanitary certificate. What is phytosanitary certification
What is THC - Terminal Handling Charges
What is the difference between BAF and CAF
What is Tail Gate exam hold in US import clearance
How to make DA mode of payment safe
How to make delay in delivery of Shipment?
What is Provisional Assessment in Import formalities in India?


Discussion Forum

You can also share your thoughts about this article.
Any one can answer on question posted by Readers