GST Refund
The Government of India introduced GST in 2017 to collect tax from citizens on purchase of goods and services. However, certain items were kept outside the purview of GST to make them more affordable and competitive for Indian market. However, in these cases also, the consumers were indirectly bearing the burden of GST since the input tax incurred by suppliers on their raw materials and other input supplies got added into the cost of their final products.
To tackle this issue, the Government of India introduced the provisions of GST Refund into the Act. The suppliers get the refund of input tax so that the burden does not passes onto the end consumers in any manner. However, claiming GST refund from Tax Authorities is not everyone’s cup of tea. Getting the refunds approved from the Authorities is cumbersome and can invite unnecessary litigation.
This is where Aplite steps in. Aplite provides best GST Refund services to make the process smooth and hassle-free for its clients. Let us have an in depth look at cases where refund is available.
Circumstances where GST Refund can be claimed
When output tax liability is less than input tax liability, then such excess input tax keeps accumulating in electronic cash ledger. This, generally, happens due to Inverted Tax Rate Structure. Refund can be claimed for such excess input.
Export is zero rated supply i.e. no GST is levied in case goods and services are exported outside India if LUT is obtained from the Department. Thus, refund is available for input goods and services taken for such output goods.
SEZs are deemed to be a place outside India and thus, any supplies made to entities located in SEZ is deemed as zero-rated and refund is available for GST on input goods and services.
Supply of goods and services to Advance Authorisation (AA) and EPCG holder is considered as deemed export and refund is available for input services similar to other exports.
When payment is made under wrong head of GST, then instead of adjustment, refund is available for such wrong payment. For example, if in place of CGST, payment is made for IGST, then refund can be claimed for IGST.
Under an order passed by the relevant Authority, the amount of tax in the order will be refunded to the taxpayer.
Why take GST Refund Services from a professional like Aplite?
Claiming GST refund is not a simple job. Each claim for refund has to be supported by proper back-calculations for which deeper knowledge of GST provisions is essential. Not only this, every claim for refund has to be planned carefully so as to avoid notices from the GST Department. Only an expert with relevant knowledge and experience in this regard can be an appropriate authority for consultation.
Aplite Advisors has a dedicated team of GST specialists who have been working in this field since long. Our advisors have experience and know how to get the refunds fastest to your bank accounts. We support all our claims with back calculations and file the same only after your approval. We understand the trust you place in us as your advisors and, thus, take every possible step to keep up to your expectations.
Still waiting? Call us today and know more about GST Refund from our professionals.