Month: September 2017

Yes, if the amount of refund is less than rupees 1,000/-, then no refund can be paid.

(ICAI FAQ PUBLICATIONS 06-09-2017 REFUNDS : FAQ NO.21)

Yes, refund can be withheld until the applicant has furnished the required return or paid the tax, interest or penalty.

(ICAI FAQ PUBLICATIONS 06-09-2017 REFUNDS: FAQ NO. 20)

 

Yes, the refund due to the applicant can be adjusted towards tax, interest, penalty or any other amount which the applicant is liable to pay but which remains unpaid under the Act or under any earlier law.

(ICAI FAQ PUBLICATIONS 06-09-2017 REFUNDS: FAQ NO. 19)

On receipt of application, where the proper officer is satisfied as regards the refund application filed, he would pass an order sanctioning the refund. In the following situations, the refund sanctioned would be paid to applicant, –
1. refund of tax paid on zero-rated supplies of goods and/or services or on inputs or input services used in making such zero-rated supplies;
2. refund of unutilized input tax credit under Section 54(3);
3. refund of tax paid on a supply which is not provided, either wholly or partially, and for which invoice has not been issued, or where a refund voucher has been issued;
4. refund of tax in pursuance of Section 77;
5. the tax and interest, if any, or any other amount paid by the applicant, if he had not passed on the incidence of such tax and interest to any other person; or
6. the tax or interest borne by such other class of applicants as the Central or a State Government may, on the recommendation of the Council, by notification, specify. In all other cases, the amount sanctioned shall be credited to the Fund.

ICAI FAQ PUBLICATIONS 06-09-2017 REFUNDS: FAQ NO. 18)

Yes, the proper officer shall issue the order within sixty days from the date of receipt of refund application.

(ICAI FAQ PUBLICATIONS 06-09-2017 REFUNDS: FAQ NO. 17)

Yes, the proper officer may sanction refund to a person on a condition that during any period of five years immediately preceding the tax period to which the claim for refund relates, not been prosecuted for any offence under the Act or under an erstwhile law where the amount of tax evaded exceeds two hundred and fifty lakh rupees. The proper officer, after scrutiny of the claim and the evidence submitted in support thereof and on being prima facie satisfied that the amount claimed as refund is due to the applicant, shall make an order in FORM GST RFD-04, sanctioning the amount of refund due to the said applicant on a provisional basis within a period not exceeding seven days from the date of acknowledgement.

(ICAI FAQ PUBLICATIONS 06-09-2017 REFUNDS: FAQ NO. 16)

Yes, an acknowledgement in FORM GST RFD-02 shall be made available to the applicant through the common portal electronically, clearly indicating the date of filing of the claim for refund and the time period of 60 days for issuance of order specified in Section 54(7) shall be counted from such date of filing.

(ICAI FAQ PUBLICATIONS 06-9-2017 REFUNDS : FAQ NO. 15)

Yes, if the refund claimed is less than 2 lakh rupees, then documentary evidence would not be required to be submitted. However, the applicant may file a declaration based on the documentary or other evidence available with him, certifying that the incidence of such tax and interest is not passed on to any other person.

(ICAI FAQ PUBLICATIONS 06-09-2017 REFUNDS : FAQ NO. 14)