GST Refund Claim Process Simplified : See all the Details here

GST refund claim process simplified as it became a big issue for businesses amid liquidity problems. As per the finance ministry now submission of print out of form GSTR-2A will be sufficient to claim Goods and Service Tax refunds as against providing invoices in respect of all purchases for a given month.

GSTR-2 A is a purchase return that is auto-generated by the system. And as per the government notification, the form will serve as the evidence using which claimants can avail of input tax credit or ITC. But in cases where the form GSTR 2 does not features all the details in respect of the invoices against which input tax credit is being claimed, the authorities may ask for the physical copy of invoices.

The notification by the government further clarified that wherein GSTR 2A carries all of the details of the invoices, officials cannot ask for a copy of invoices. In the previous GST refund fortnights convened to expedite the GST refund settlement process, the government has cleared claims of exporters of more than Rs. 54,0000 crore till July.

How to Claim GST Refund?

The refund application has to be electronically submitted in Form RFD 01 within 2 years from relevant date. The refund application form must be certified by a Chartered Accountant / Cost Accountant if the amount of refund exceeds Rs 2 lakhs.

Documents Required

The below is the list of standard documents to be filed along with refund claim by applicants making a claim:

  • For each claim, the primary document that has to be submitted is a statement of relevant invoices relating to the claim.
  • If the refund is made on account of export of services, not including the statement of invoices, the relevant bank realization certificates verifying receipt of payment in overseas currency should also be furnished.
  • In case a claim is made by the supplier to the Special Economic Zones (SEZ) unit, the authorized officer will have to make an endorsement verifying the receipt of such commodities or services in the SEZ and submit the same along with the other documents.
  • Moreover, the SEZ unit will also have to provide a declaration stating that ITC of the tax paid by the supplier has not been availed.

The GST Refund Claim Process Simplified (Process)

In order to process a refund claim, the following procedure must be adhered to:

  1. Login to the GST portal, click on Services > Refund > Application for Refund.
  2. Fill in the application form intended for claiming a refund. For this, select “Refund of excess balance in electronic cash ledger” and click on “create”
  3. Here, you need to enter values in editable “refund claimed” table, then select “bank” in which you want your GST refund to get credited and click on a button “save”
  4. At last, tick the checkbox and select “authorized signatory” from the drop-down menu. Depending upon your type of organization select either of “‘SUBMIT WITH DSC’ or ‘SUBMIT WITH EVC’”