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Automated GST refund for exporters by next month

Exporters of goods and services as well as suppliers to SEZ units are likely to get GST refunds automatically from June as the revenue department plans to introduce faceless scrutiny of refunds and faster claim settlement, an official said.

Currently, the facility of automatic refund is available only for those exporters who have paid Integrated Goods and Services Tax (IGST) while exporting goods. Since the GST Network (GSTN) systems are integrated with Customs, hence, refunds are generally transferred to the bank accounts of such exporters within a fortnight.

However, manufacturing exporters and suppliers to SEZ, who want to claim a refund of ITC, have to file an application in Form GST RFD-01A on the common portal and thereafter manually submit a print out of the form along with other documents to the jurisdictional officer.

April GST return filing deadline extended till 20 June in parts of Odisha

The Finance Ministry has extended the deadline for filing summary sales return for April in 14 districts of Odisha affected by cyclone Fani by a month till June 20. Similarly, the due date for filing final sales return or GSTR-1 for April for taxpayers having aggregate turnover more than Rs 1.5 crore too has been extended by a month till June 10.

Hyderabad haleem: Rs 800 crore business during Ramzan now on GST radar

The haleem on your plate is now on the radar of Goods and Services Tax (GST) department, with officials suspecting that most outlets selling them are evading tax. At least 80 top restaurants with hundreds of outlets that are raking in the moolah without generating bills have been identified.

By: admin Feb 15, 2018

Automated GST refund for exporters by next month

Exporters of goods and services as well as suppliers to SEZ units are likely to get GST...

By: admin Feb 15, 2018

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