GST CASH REFUND

Under the GST regime, taxpayers are eligible for a refund of GST paid on inputs or input services used in the course of business. The refund may arise due to export of goods or services or due to the accumulation of input tax credit. The process of claiming a refund of GST paid is called GST Cash Refund.

To claim GST Cash Refund, the taxpayer needs to file an application in Form GST RFD-01 on the GST Portal. The application must be filed within 2 years from the relevant date. The relevant date may differ depending on the nature of the refund. For example, in the case of export of goods, the relevant date is the date of shipping bill or bill of export.

The GST Cash Refund process involves verification of the refund claim by the GST authorities. The authorities may ask for additional documents or information to verify the claim. Once the claim is verified, the refund amount is credited to the taxpayer's bank account.

It is important to note that GST Cash Refund is a time-consuming process and may take several weeks or months to complete. Taxpayers are advised to ensure that all the required documents and information are submitted accurately to avoid any delay in processing the refund claim.