GST Refund: Fifteen Days Special fortnight from 31.05.2018 to 14.06.2018


CBIC issued a press release intimation of Special Refund Fortnight from 31.05.2018 to 14.06.2018.  The press release reads as below:

Refunds of GST have been a concern for both Government and Trade for the past several months. Till now, Government has sanctioned more than Rs 30,000 Crore as GST Refund. This includes an amount of Rs 16,000 Crore of IGST and Rs 14,000 Crore of ITC.

The figures of ITC include sanctions by both Central and State Governments. Contrary to the press reports that there has been a dip in refund sanction after the first Refund Fortnight in March 2018, the refund sanctioned during May 2018 is to the tune of Rs 8,000 Crore.

Refund claims to the tune of Rs 14,000 Crore (7,000 Crore on the IGST side and Rs 7,000 Crore on account of ITC) are pending with the Government as of date, as against the figure of Rs 20,000 Crore projected by FIEO in the press reports. In order to liquidate the pendency, the Government is starting a second “Special drive Refund Fortnight” from 31st May 2018 to 14th June 2018.

Special Refund Drive

This time the “Special Drive Refund Fortnight” would facilitate all types of Refund claims in which Customs, Central and State GST officers will strive to clear all GST refund applications received on or before 30.04.2018. This will include refunds of IGST paid on exports, refunds of unutilized ITC, and all other GST refunds submitted in FORM GST RFD-01A.

CBIC is implementing a solution whereby the refunds held in GSTN, in cases where the exporters have mistakenly declared their export supplies as domestic supplies, would now be transmitted to Customs EDI System. A Circular No 12/2018 dated 29-05-2018 has been issued in this regard.

On receipt of the records from GSTN, the Customs System would automatically process the refunds for sanction, if no other errors are committed by exporters.

Circular on GST Refund

Circular No 45/19/2018-GST has been issued on 30-05-2018 clarifying matters related to refund claims by an Input Service Distributor, composition dealer, exports of services, and supplies made to SEZ. The circular also clarifies issues related to the requirement of LUT in cases of export of exempted or non-GST goods and the scope of the restriction imposed under Rule 96(10).

All claimants may note the refund application in FORM GST RFD-01A will not be processed unless a copy of the application, along with all supporting documents, is submitted to the jurisdictional tax office. Mere online submission is not sufficient.

All GST refund claimants are encouraged to approach their jurisdictional tax authority for disposal of any of their refund claims submitted on or before 30.04.2018, which are still pending. In case the jurisdiction (i.e. Centre or State) has not been defined for a particular claimant, he/she can approach either of the jurisdictional tax authorities.

All IGST refund claimants may register on the ICEGATE website, if not already done, to check their refund status. Customs field formations have been directed to gear up for the anticipated response of the exporters by diverting additional manpower and infrastructural resources. Exporters are requested to come forward and avail of the opportunity to get the refunds sanctioned during this special drive.

Quick Links on GST Refund

Online GST Refund process

Learn everything you want to know about GST refund process for cash and credit ledger refund.

How to make letter of undertaking?

understand the concept of letter of undertaking under GST. Download the format of LUT in GST.

Latest GST Return News

See the latest news on GST returns, due dates, Annual return filing and much more at GST india News blog.

Simple Tax GST Calculator

Read the GST calculation formula with excel sheet. know more about Reverse GST Calculator.

Leave a Reply

Your email address will not be published. Required fields are marked *