GST is all about bringing a smooth flow of funds and compliances for ease of doing business in India. To facilitate such a steady stream, the Government must provide for a hassle-free refund processing system. The prevailing tax structure is cumbersome, and it takes months and seldom years to get refunds from the Government.
GST provides for an efficient and dynamic invoice based tracking system, validating every transaction, ensuring systematic checking of the same. It comes out to be a massive relief for the manufacturers and exporters, especially those in a 100% Export Oriented Units or Special Economic Zones, whose working capital gets blocked in dealing with the time-consuming process of refunds.
Filing application of refunds
Preparation of complete documentation for refund process
Preparation of declaration of non-passing of incidence of tax to any other person
All required certifications by a Chartered Accountant
Representation before the department on behalf of clients
Regular follow-ups with the department for getting refunds at the earliest
Any consultancy related to refunds
1. Export of goods or services under LUT/Bond, without the payment of GST
2.Supply of goods or services to SEZ units and developers under LUT/Bond, without the payment of GST
3.Refund of accumulated credit of input tax due to inverted duty structure, i.e. when input tax rate is higher than output tax
4.Export of goods or services on payment of GST
5.Supply of goods or services to SEZ units and developers on payment of GST
6.Deemed Exports (refund available to both supplier and recipient)
7.Refund of input taxes on purchase made by UN Agencies, embassies etc.
8.Refund to CSD canteens
9. Refunds to International tourists of tax paid on goods procured in India and brought abroad at the time of exit from India
10. Refund arising of any judgement, decree, order or direction of the Appellate Authority, Appellate Tribunal or any court
11. Refunds when a provisional assessment is finalised
12. Excess balance in electonic cash ledger
13. Excess payment of tax due to an error or mistake
14. Refund of IGST paid by treating the supply as inter-state supply which subsequently comes out to be intra-state supply and vice versa
15. Refund for the issue of refund vouchers for taxes paid on advances where the actual supply of goods or services does not take place
