Join the largest network of startups, CA, CS, Lawyers. Subscribe for free magazine and our startup network. Relevant date in case of Unutilized Input Tax Credit under sub-sec (3) 'clause (ii) of first proviso to sub-sec (3)” vide clause 23 (b) (ii) of CGST Amendment Act, 2018 w.e.f. In any other case refund can be applied with in 2 year from the relevant date. Incaseofexporters,theGSTofficerwillsanction90%oftherefund applied on provisional basis within 7 days from the date of acknowledgement(RFD-02onwebsite).Thebalanceamountshallbe issuedwithin60daysfromtheacknowledgment.Ifrefundisnotissued within60daystheninterestwouldbepayable@6%P.a.from61stdays ofRFD … Every refund claim filed on or after 01st Feb 2019 will be governed by amended section 54 of CGST Act 2017 even if the refund claim pertains to period prior to 1st Feb, 2019. “However, a clarification from the Government for time limit in this regard would be a magical bullet for both the taxpayers as well as the Department in order to avoid numerous litigations and proceedings in future.”. Dear Sir, Thanks for your reply Sir! This may happen as the Department of Revenue is considering to introduce faceless scrutiny of refunds that will, in … Any person claiming refund of any tax and interest, if any, paid on such tax or any other amount paid by him, may make an application before the expiry of two years from the relevant date in such form and manner as may be prescribed: In order to have a clear understanding, Clause (e) to explanation (2) to section 54(14) which defines the ‘relevant date’ is reproduced below: “Explanation – For the purpose of this section, —. In the case of goods exported out of India and where a refund of tax paid is available to the applicant in respect of the goods themselves or, as the case may be, the inputs or input services used in such goods, then the relevant date: In the case of supply of goods regarded as deemed exports where a refund of tax paid is available in respect of the goods, the date on which the return relating to such deemed exports is filed. by facelesscompliance in GST, GST Circular Notification. This is because the section 54 of CGST states that any person claiming refund may make an application before the expiry of two years from the relevant date. Under GST this time period is 2 years. I have a query regarding relevant date for filling of application for GST Refund, for this purpose of relevant date explained in explanation to section 54 clause (2), sub clause (e) shall be read as: “In the case of refund of unutilised input tax credit under sub-section (3), the end of the financial year in which such claim for refund arises;" Brief Understanding of Provisions As per Section 16 (1) of IGST Act, 2017, exports of goods or services or both and supplies of goods … A statement containing the number and date of shipping bills or export bills and the number and date of the corresponding export invoices, along with the invoice. Download India's first Online GST Magazine. It means if we paid tax in CGST/SGST in July 17 & after GST audit only came to know that we need to pay in IGST in Jan 20,accordingly if tax is paid in correct head in Jan 20. 01.02.2019. 55/2020- Central Tax in order to avoid any legal dispute with the department in future.”. The author may be reached at [email protected], Also Read- Denial of ITC (inverted duty structure) invalid; Rule 89(5) ultra vires section 54(3) Provisions: Gujarat HC, Your email address will not be published. 5.0 Relevant date in case of GST refund due to consequence of judgement. or. IN terms of Rule 5 of the CENVAT Credit Rules, 2004 if any input or input service is used in the manufacture of final product and cleared for export or used in providing output service which is … Budget 2021: GST Audit by professionals scrapped? 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