How to differentiate Recovery from a third person with Refund of Interest?
What is Recovery from a third person? How does Refund of Interest work under GST regime? What are the difference between Recovery from a third person and Refund of Interest?
Under GST system, the following information explains about Recovery from a third person and Refund of Interest.
As per GST terms, Recovery from a third person The proper officer may serve upon a person referred to in clause (c) of sub-section (1) of section 79 (hereafter referred to in this rule as “the third person”), a notice in FORM GST DRC- 13 directing him to deposit the amount specified in the notice. “Refund” includes 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, or refund of tax on the supply of goods regarded as deemed exports, or refund of unutilized input tax credit due to a higher tax rate on the input than the output.
The details about Recovery from a third person and Refund of Interest with simple language from GST terms have been mentioned in this web blog separately. We suggest you to read these articles on Recovery from a third person and Refund of Interest, so as to enable you to have a clear idea on these GST terms.
For your immediate reference, we give below web links on Recovery from a third person and Refund of Interest separately below. You may kindly read the below links to know more about Refund of Interest and Recovery from a third person.
Term Recovery from a third person under GST
The above information easily explains about Refund of Interest and Recovery from a third person.
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