Refund under GST as per section 54
What can be claimed as Refund?
- ANY unutilized input tax credit (whether supply has been made as Zero-rated or Taxable supply under inverted duty structure)
- Tax paid by any specified agency (Like UN, Red Cross, Embassies)
What procedures need to be followed?
- File application u/s 54(1) within 2 years if claiming refund of any tax or interest paid by him, this can be claimed by filing return “RFD-1”
- File application u/s 54(1) anytime to claim refund in the return furnished u/s 39 of any amount available in electronic cash ledger u/s 49(6), this can be claimed by making a refund application
If you have any balance in GST Credit account or you have paid the Tax/Interest, and you wish to claim the same as refund, we will be happy to clarify the positions.