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GST Committee Report on Refunds

GST Committee Report on Refunds
Start Date :
Oct 12, 2015
Last Date :
Nov 16, 2015
00:00 AM IST (GMT +5.30 Hrs)
Submission Closed

The Government of India intends to introduce the Goods and Services Tax (GST) in the country at the earliest. GST seeks to subsume many indirect taxes at the Central and State ...

The Government of India intends to introduce the Goods and Services Tax (GST) in the country at the earliest. GST seeks to subsume many indirect taxes at the Central and State level. The proposed dual GST envisages taxation of the same taxable event, i.e., supply of goods and services, simultaneously by both the Centre and the States.

The Constitution (One Hundred and Twenty-Second Amendment) Bill, 2014, has been introduced in the Parliament for facilitating the introduction of GST in the country. Simultaneously, committees comprising of officers from the Central Government, as well as the State Governments, have been constituted for the drafting of Model CGST, SGST and IGST laws, and GST business processes of registration, refunds, returns and payments.

The draft Model CGST, SGST and IGST laws, along with GST business processes for filing of returns, shall be put up for inviting comments of stakeholders in due course. Presently, the draft business processes on GST registration, GST refunds and GST payments are being published.

The Report of the Committee on GST Refunds is available here. Comments and views are invited on these business processes by 31st October, 2015. Users are requested to keep in mind the guidelines for posting their comments:

1. Please use the following hashtags for commenting on the report:
a. #GSTRefunds: for general comments.
b. #GSTRefundSituations: for comments on situations where refunds would arise
c. #GSTRefundForms: for comments on proposed Refund Forms

2. Please restrict your comments to 500 characters. In case your comments exceed this limit, please upload your comments as a pdf document.

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Showing 218 Submission(s)
AVIJIT SAHA_4
AVIJIT SAHA_4 8 years 10 months ago

Rate of Tax on Services is more than that of goods. Which will result in a situation where Input GST (Goods+Service) is more than Output GST(goods+service). As per the business process the excess credit will be carry forward to the subsequent year for adjustment. If this carry forward is prolonged then the working capital cost will increase. On the other hand if GST credit on services is not taken then the pricing will become uncompetitive. Hence for excess input option for refund to be allowed.

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ASHISH GUPTA_90
ASHISH GUPTA_90 8 years 10 months ago

How the refunds pending in different states would be impacted on account of ongoing statewise litigations and assessments ?? Need clarification..

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JAIPRAKASH SARAF
JAIPRAKASH SARAF 8 years 10 months ago

#GSTRefunds: for general comments. In case of exporters duty free sourcing allowed. BRC should not be pre-condition for refund.Refund for Excess payment/Wrong mention under Additional Tax also be allowed. Their should either be no minimum amount limit for refund as said of 500-1000 per case or else for demand of any tax also same minimum limit should be adhered. Rate of Interest on refund be same as asked from taxpayer on tax dues, 6% interest is very less of refund, minimum 9%.

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