CBIC Enables Online Facility to Track Refund Application Status in Real Time
CBIC – Online Facility – Track Refund Application Status – Real Time – Taxscan
CBIC – Online Facility – Track Refund Application Status – Real Time – Taxscan
The Central Board of Indirect Taxes and Customs (CBIC) enabled the Online facility for Taxpayers to track the status of refund application in real time.
The following colours indicates various stages in the process to track the status of refund application.
Red → Current Status shown in Red
Green →Completed stages shown in Green
Grey → Pending stages shown in Grey
The Steps involved in tracking the status of refund application are:
Step1: Login to GST Portal
Step2: Navigate to services tab
Step3: Track application Status
Step4: Select the Refund Option
Step5: Enter Application Reference Number (ARN)
Step6: Click Search
GST refund is a process in which, registered taxpayers can claim excess amount if they paid more than the GST liability. They can claim after submitting a refund application with the necessary details in the GST portal.
The cash flow and working capital requirements of manufacturers and exporters could be adversely affected if a refund is delayed. As a result, one of the intentions of the implementation of GST is to ensure that the refund process is smoother so that manufacturers and exporters do not face issues due to delays. By ensuring that the refund process is facilitated quickly, tax administration becomes more effective.
The GST regime has provisions relating to refunds, and it aims at streamlining and standardizing the procedures about refunds under GST. Therefore, a standardized form has been created to make claims for refunds. The procedure for making claims can be completed online on time.
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