GST: Maharashtra Govt prescribes Procedure for Manual Filing and Processing of Refund Claim of inverted Tax Structure and Deemed Exports [Read Circular]

Income Tax Refund Claim

The Maharashtra Goods and Services Tax department, today explained the procedure for manual filing and processing of refund claim related to zero-rated Supply of Goods or Services or both and refund of excess balance in electronic credit ledger.

A trade circular issued by the Government today said that “due to the non-availability of the refund module on the common portal, it has been decided, on the recommendations of the Council, that the applications /documents /forms pertaining to refund claims on account of inverted tax structure and deemed exports shall be filed and processed manually till further orders.”

It was clarified that refund claims on account of inverted tax structure and deemed exports shall be filed for a tax period on a monthly basis in FORM GST RFD-01A.

However, in case of registered taxable person having aggregate turn-over upto Rs. 1.5 Cr. in the immediately preceding financial year or, in the current financial year and who opts to file GSTR-1 quarterly shall apply for refund on quarterly basis.

The refund application under this category shall be filed in the cases where the credit has accumulated on account of rate of tax on inputs being higher than the rate of tax on output supplies (other than nil rated or fully exempt supplies), it said.

The circular also prescribes the preparation of refund application at GSTN portal.

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