However, taxpayers need to file their claim for GST refund within two years from the relevant date. In the absence of specific provisions, general provisions are applicable. However, in explanation to that section, there is no specific entry in for the meaning of ‘Relevant Date’ in case of Supplies to SEZ. The application for claiming a GST refund should be made within 2 years of the relevant date. If a person is liable to pay taxes on reverse charge, the relevant date would be the date of receipt of goods or services. In this article, we look at relevant date for GST refunds in detail. In any other case refund can be applied with in 2 year from the relevant date. If you are claiming a refund for excess payment of GST, your date of payment becomes the relevant date. Relevancy of Relevant Date: if any refund application is not filed within the relevant date then such application shall be treated time barred and GST department can deny to entertain such application. Thus practically every situation is covered. 4.0 Relevant date in the event of fare of Services for discount of GST On account of administrations sent out of India and where a discount of assessment paid is accessible to the candidate in regard of administrations themselves or, all things considered, the sources of info or information administrations utilized as a part of such administrations, When it comes to refunds in GST, the concept of relevant date plays a vital role, as the application for refund has to be made within two years of the relevant date. Export of Goods out of India GST refund of unutilized ITC- the end of the fiscal year during which claim for refund occurs.In other cases- the date of the tax payed. The ‘relevant date’ in each scenario of refund is given below: A person claiming refund of tax or interest or any other amount paid must file an application for refund in Form GST RFD-1 before the expiry of 2 years from the ‘relevant date’. Under GST, “Input Tax... How to Reverse ITC on Sale of Capital Goods, ITC on Capital Goods, ITC on Immovable Property, ITC on Motor Vehicle, Process for Reversal of ITC on Capital Goods, Whether ITC available on Capital Goods. In other words, as per view taken by them, the refund claims of unutilized credit under GST cannot be filed before 31.3.2018. Finalization of Prov... Find trademark class for over 8000 goods and services, Manual Filing and Processing of GST Refund Claims. And the period for such interest would be from the date immediately after 60 days to the date of refund. TIME PERIOD FOR FILING OF REFUND AND RELEVANT DATE: 4.0. There are different relevant dates defined for various GST refund scenarios. Practically, in current scenario, some Refund Processing Officers under GST are not granting refund for the period July, 2017 to Jan, 2018 by issuing Show Cause Notice in Form GST RFD-08 on the ground that it is time barred on account of lapse of prescribed two years from the relevant due date of furnishing return under section 39 of CGST Act, 2017 i.e., 25-08-2019 for July, 2017 and 20-02-2020 for Jan, 2018. Blocked Credit, Conditions to avail ITC, How to reverse ITC, Interest Rate on reversal of ITC, ITC of compensation cess, ITC Provisions under GST, Section 17(5) of CGST, Situation where ITC cannot claim. GST refund applies to any taxpayer upon making extra GST payment in the form of tax, interest, penalty, fees or any others. An overview of the various situations that could lead to a GST refund for a taxpayer. Click here to read on Time of Supply of Goods. GST Fever is an emerging online player in field of Taxation Consultancy, Blogging, Article Publishing & Real time expert Advisory. It is important to understand what would be the “Relevant date”, as this date is required for calculating the time-limit for claiming refund. India: “India” means the territory of India as referred to in article 1 of the Constitution, its territorial waters, seabed and sub-soil underlying such waters, continental shelf, exclusive economic zone or any other maritime zone as referred to in the Territorial Waters, Continental Shelf, Exclusive Economic Zone and other Maritime Zones Act, 1976, and the air space above its territory and territorial waters. All rights reserved. Where refund arises due to an order passed in favour of the appellant, then relevant date shall be the date of such order. The meaning of relevant date is very important in regard to refund provisions under GST. When GST Refund Application Can Be Filed? 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. Agriculture Entrepreneurship Promotion Scheme, Upon exporting the by ships or aircraft, the date on which the carrier leaves India, the mentioned date shall apply as a relevant date, Goods exported by road or rail, the date on which the carrier crosses the frontiers of the nation shall apply as a relevant date. © 2019 GST Fever. Claiming refund will depend upon whether such application was filed within relevant date or not. With regards to services exported out of the country, where refund applies on executing these services, and the inputs or input services used in such services, the relevant date shall apply as: Pre-deposits done before appealing to the proper authorities are refundable, subject to conditions. Post Views: 109 All about Input Tax Credit on Capital Goods Input Tax Credit is the key pillar of GST. Fo... GSTR3B Due Date for April 2018 Second, the GST refund claim must be made within 2 years from the ‘relevant date’ of GST refund application. Refund should be sanctioned within a period of 60 days from the date of receipt of the claim. Input Tax Credit plays vital role in determination of net tax liability of a taxpayer. relevant export invoices, in a case where the refund is on account of export of goods • A statement containing the number and date of invoices along with such other evidence as may be notified in … The refund application has to be made in Form RFD 01 within 2 years from relevant date. Relevant date, in this case, will be the date of filing of returns of such transactions. Time period to Claim the refund: In case of refund as mentioned in point no. Claiming refund will depend upon whether such application was filed within relevant date or not. has to be paid if the amount is not refunded within 60 days from date of receipt of application. For every other case, the relevant date will be the date of payment of the tax. As per section 54(1), an application for refund can be moved within two years from the relevant date. On the date of implementation of GST there was a fear in the mind of every business man which is “fear of working capital blockage” as tax will be leviable on supply rather sales and supply includes stock transfer also. The relevant date for the same will be the date of decree or order communicated by the Appellate authority, tribunal, or any court. 1.0 Meaning of relevant date . A registered person may claim the balance available in the electronic cash ledger by filing the return as per the dates mentioned under GST. within relevant date. Refund under GST can be claimed for tax paid, cash lying in cash ledger etc. List of GST refund forms available for the Registered taxpayer on the GST Common Portal. A person can make an application for refund of GST before expiry of two years from the relevant date in such form and manner as may be prescribed. Refund is very important term under the GST for the person who is eligible to claim the refund and for the GST Authority who issues the refund order. Refund application can be filed under GST within a period of 2 years from the relevant date. The date of receipt of payment in convertible foreign exchange. There are various cases for which there are different relevant date has been prescribed. Interest on amount refundable as a result of Order passed in an appeal or further proceedings: Interest @ 9% p.a. The principle of unjust enrichment would be applicable in all cases of refund except in the following cases: - i. Purchase month april 18 Export occur in sep 18 FIRC comes in 1 dec 18 Now date of filing of refund is 30 nov 2020 When GST Refund Application Can Be Filed? 135/05/2020-GST Dated 31/03/2020 issued in regard of filing and processing of refund electronically. It is recommended that a period of one year from the relevant date may be allowed for filing of refund application. Relevant Date: GST refund found in provisional assessment: Date when tax is adjusted: Accumulated ITC credit due to nil outward liability: By the end of the financial year in which you claim ITC. First of all, you should know that under the GST, all types of GST refund claims should be filed within 2 years from the relevant date of refund. Example of Interest calculation under GST, How to Calculate Interest on late payment of GST, Interest calculation in GST, Interest on ITC in GST, Interest on late payment of GST, Interest rate on wrong input credit, Rate of Interest under GST. 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