Goods and services Tax (GST) can help repay businesses by recording extra tax paid due to credits, exports or other qualified landscapes. GST reimbursement requires compliance with accuracy and legal guidelines. Easy Tax Consultancy, a recognized simple tax consultant as the best GST adviser in India, offers special GST services to simplify the reimbursement process. It's a step-by-step guide to archive your GST reimbursement.
Step 1: Determine selection ability
Make sure your business is eligible for GST reimbursement before applying. Refunds may be claimed under various circumstances, including:
Export of goods or services (without paying tax)
Accumulated input tax credit (ITC) due to an inverted duty structure
Excess tax payment due to an error
Refunds for deemed exports and SEZ supplies
Step 2: Collect the required documents
To ensure a smooth corresponding process, keep the following documents clear:
GST invoices and relevant purchase records
Proof of tax payment and bank statements
Shipping bills (for export-related refunds)
Declaration forms as required under GST rules
Step 3: File Form RFD-01 Online
Log in to the GST portal (www.gst.gov.in)
Navigate to ‘Services’ > ‘Refunds’ > ‘Application for Refund’
Select the appropriate refund type and fill in Form RFD-01
Attach necessary documents and submit the application
Step 4: Acknowledgment and ARN Generation
Upon submission, you will receive an Application Reference Number (ARN). This ARN helps track your refund status online.
Step 5: Verification by GST Officer
The GST department reviews your application. If additional information is required, they may issue a notice. Respond promptly to avoid delays.
Step 6: Refund Approval and Payment
If approved, the refund is processed within 60 days. Interest is paid if there’s a delay beyond this period.
Need Expert Assistance?
Filing for a GST refund can be complex. Easy Tax Consultancy, known for its best GST consultant in India, offers end-to-end GST services, ensuring timely and hassle-free refunds. Get in touch today to streamline your GST compliance!
For more details, contact Easy Tax Consultancy and maximize your GST benefits.
