Form application of tax refund
| 1 | GST RFD-01 | Refund application |
|---|---|---|
| 2 | GST RFD-02 | Acknowledgement at the common portal |
| 3 | GST RFD-03 | Communication of deficiencies |
| 4 | GST RFD-04 | Provisional-Order sanctioning the amount of refund | 5 | GST RFD-05 | Payment advice | 6 | GST RFD-06 | Final order sanctioning the amount of refund | 7 | GST RFD-07 | Order giving details of adjustment of outstanding demands with refund amount | 8 | GST RFD-08 | Issuance of notice if refund not admissible | 9 | GST RFD-09 | Reply to notice | 10 | GST RFD-10 | Refund application by embassies, etc. | 11 | GST RFD-11 | Statement of inward supplies of goods/services by embassies, etc. |
Important tax refund provisions
- Time limit for claiming tax refund has been increased from 1 – 2 years.
- The Refund which is claimed along with the documentary evidence has to be filed online without any physical interface and the refund amount of the tax will be directly added to the nominated bank account of the applicant. Besides, the refund can be claimed through return also if it is of inadvertent or excess payment.
- The refund shall be granted within 60 days from the date of receipt of complete application. Interest is payable if a refund is not sanctioned within the stipulated period of 60 days.
- There is no need for the claimant to furnish any documentary evidence if the amount of refund claim is less than Rs. 5 lakhs, only a self-certification to this effect will have to be given.
- 80% of the claim shall be paid immediately on a provisional basis without verification of documentary evidence in the case of refund claim on account of exports.
The refund of which is claimed by the taxpayer shall be granted within 60 days from the date of receipt of complete application. If a refund is not sanctioned within the stipulated period of 60 days, Interest is payable not exceeding the rate @ 6%.