Service Details:
| Service Mode | Online, Pan India |
| Type Of Service Provider | Tax Consultant |
| Document | Aadhar Card and Pan Card |
| Service Type | GST Refund Service |
| Payment | Online / Offline |
The above price is the basic price, may get increased based on work and complextion.
What is GST Refund
1. Refund of ITC (Input Tax Credit)
2. Refund Of Tax IGST
3. Refund of wrong payment of Taxes (CGST, SGST, IGST)
Refund of ITC (Input Tax Credit) -
There are only two cases where you can get Refund of Taxes paid on Purchase Bill -
1A. Zero Rated Supply (in General Language Export of Goods and Services) case:
When you do Export of Goods & Services with LUT (Letter of Undertaking) means without charging GST on Sales Bill.
You will be eligible for Refund of ITC
due date - 2 Years
timeline - 1-2 Week
Important Note -
- Keep the copy of all Purchase & Expense Bill in hand
- Apply for LUT and get it Renewal
1B. When your Outward rate is less than Inward Rate (in General Language GST Rate on Sales is less than GST Rate on
Purchase)
Inverted Duty Struture
case:
Example -
You charge 18% on Sales Bill
and GST Rate on purchase is 5%
in this case, You will be eligible for Refund of ITC.
due date - 2 Years
timeline - 1-2 Week
Important Note -
- Keep the copy of all Sales, Purchase & Expense Bill in hand
2. Refund of TAX i.e. IGST
When you do Export of Goods & Services without LUT (Letter of Undertaking) means with payment og IGST on Sales Bill.
You will be eligible for Refund of IGST paid on Export.
3. Refund of wrong payment TAX i.e. IGST, CGST SGST, PENALTY
When you have made payment of GST Tax by mistake, you can apply for refund of the wrong taxes paid.
Example - Amount to be paid 230, you paid 2330 o 2300...etc....
FAQs -
Myths -
In the Market people told me buy a Mobile/fridge/AC/Laptop etc....on the GST No, Govt will refund you GST in your Bank Account.
Completly Worng.
Refund of taxes allowed in the above case.
For the GST paid on purchase of above, you can get credit of same by payning less GST charged on Sale.
Example -
you sold goods of Rs. 1.00.000 18% GST
18,000 Tax you collected from Customers
You bought a mobile of Rs. 50,000 18% GST 9000 GST you paid.
You have to pay to the Government Rs. 9000 only (18,000 - 9,000).
Understood, GST work like this.
Disclaimer - the above write ups are applicable in general case, for expert and specific opinion contact us.
