A delay in refund processing can adversely affect the working capital requirements and cash flow of manufacturers. As a result, the process of application, filing, payment, and refund for GST has been developed online to ensure fast delivery and seamless access. This ease of access allows manufacturers, vendors and exporters to file their GST returns and track the status of their GST refunds from the comfort of a computer screen.

What is the GST refund?

There are cases when GST is paid in excess of what the GST liability stands, thus creating a situation of claiming back the additional amount. The process of claiming a refund is regulated to make sure that there is little or no confusion in the process, such as the time limit is specified at two years from the time of the relevant date.

When can the refund be claimed?

There are multiple occasions on which the entity or individual can claim a refund:
  • Dealer Exports (including deemed export) goods/services that are under a claim of refund or rebate
  • Refund of tax paid on purchases made by UN bodies or Embassies
  • ITC accumulation due to output being nil-rated or tax-exempt
  • Finalisation of provisional assessment
  • Refund of GST for International Tourists
  • Refund of the accrued input tax credit on account of inverted duty structure
  • Refund of SGST and CGST that are paid by considering the supply in the course of interstate commerce or trade

How to Track GST Refund Status Online?

Once you filed a refund using RFD-01, there are following ways how one can track a GST refund online:
  • Post-Login Tracking to the GST Account – Here you need to check the ‘Track Application Status’ by logging into the GST Portal and going into the services tab. Thereafter, the year is to be selected as well as the bank account needs to be confirmed, upon which one can get detailed information about their status.
  • Pre-Login Tracking to the GST Account – In this case, the login to the GST portal is not required for getting any tracking related information. One has to visit the GST portal and click on the 'Track Application Status' and enter your ARN to get the status of your refund.
  • Refund Status Tracking for IGST Paid on Exports of Goods – Here, the login process has to be completed, upon which the financial year is selected as well as quarterly filers. It is then the invoice details are to be checked and entered, thereby getting all the relevant information.
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DISCLAIMER

The information contained herein is generic in nature and is meant for educational purposes only. Nothing here is to be construed as an investment or financial or taxation advice nor to be considered as an invitation or solicitation or advertisement for any financial product. Readers are advised to exercise discretion and should seek independent professional advice prior to making any investment decision in relation to any financial product. Aditya Birla Capital Group is not liable for any decision arising out of the use of this information.



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