How to get sanctioned GST refund amount



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How to get sanctioned GST refund amount

How to get sanctioned GST refund amountSANCTIONING OF REFUND:

To make the process of refund hassle free, it is important that even this last stage of refund processing should be simple and free from human intervention so that the applicant may have a pleasant experience while dealing with tax authorities. Therefore it becomes significant that once the tax authority decides about sanctioning of the refund, the same shall be granted to the applicant promptly. For this it would be essential that the details of the bank account are sought from the applicant at the time of filing of the refund application itself so that the amount of refund can be transferred to the applicant electronically through NEFT /RTGS/ECS.



Every refund that is sanctioned would need to go through a process of review by higher authorities in order to ensure the correctness of the decision of refund sanctioning authority. So once the refund is sanctioned, the same shall be transferred through the IT system to the menu of the higher authority along with the documents on the basis of which decision was taken by the refund sanctioning authority. Any documents that were sought besides those in the application should also be forwarded manually to the higher authority for taking a decision about review of the order. It is essential that there is simultaneous flow of the refund documents in paper along with the electronic application to the audit section so that the process of post audit can be carried out concurrently.

It is recommended that looking at the higher level of compliance and self regulating mechanism in the form of system based ITC verification, uploading of sales and purchase invoices, reconciliation, compliance rating etc. post audit of refund application (and not of the accounts of the taxpayer)can be dispensed with if so decided by the respective Tax Jurisdiction for refunds upto Rs. One lakh for normal taxpayers and for refund upto Rs. 2 lakhs for certain prescribed categories of applicants (like public sector undertakings, applicants having the AEO Status, etc.) but the process of review of refund may be provided in the GST Law.

Besides this, for refund amounts exceeding a pre-determined amount a provision for pre-audit of refund application (and not of the accounts of the taxpayer) before the sanction of the refund may be provided for. Keeping in view the points mentioned above regarding increased compliance, self-regulation and system based verification, etc., it is recommended that the monetary limit for pre- audit of the refunds sanctioned may be kept at Rs. one crore or as may be decided by the respective Tax Jurisdiction. The procedure for pre- audit will be same as that for the post audit except that the application will have to move to and fro between the refund sanctioning authority and the audit authority before grant of refund. The GST Law may provide that the process of audit should be time bound with clearly defined timeline so that quality of audit does not suffer from insufficiency of time.

It is recommended that either the review procedure or system of pre-audit & post-audit may be kept in the GST Law. GST Law Drafting Committee may provide for the appropriate provision.

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Shanti Steels: At present an expoter can buy goods without any tax against form 'H'.In G. S.. T will it be the same?

Aneesh: Dear sir, Kindly note that the medical shop field existing stock on GST price available and customers hand in tax taken Mrp + additional tax or medicine whole sale distributors tax payments collected.l would request you to more details of this field.

JENEESH JABAR JABAR : I am Jeneesh Jabar from Thrissur, Kerala.I have some doubts regarding exports goods from India. We are planning to exports medical disposable goods to Middle east.We are purchasing goods from Indian Manufacturer and exporting that goods.We are paying GST when purchasing.After exporting, can we apply for refund of GST?.we are planning to give Quotation to the buyer without GST.Thats why I am asking e.g. We are Purchasing a Syringe Rs.5 plus 18% GST. So total will be Rs.5.9. We are planning to export this product to a buyer with 10% profit means Rs.5.5 ,we not adding the GST. I want to clear that, which I have Paid as GST(0.9) ,will get back or not as refund? Kindly give me the reply as early as possible with thanks Jeneesh Jabar

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