About GST Refund

GST Refund is a process where registered taxpayers claim a payout from tax authorities if they have paid Goods and Services Tax (GST) in excess of the actual tax liability. This refund is typically granted for situations such as excess tax payment, export of goods or services, zero-rated supplies, claimed lower income than presumptive income, and unutilized input tax credit.

Who is Eligible for GST Refund?

To be eligible for GST Refund, taxpayers must meet specific criteria depending on the type of refund they are claiming. Here’s a summary of eligibility for common refund scenarios:

• Excess Tax Payment: Taxpayers who have paid more GST than they owe are eligible for a refund.
• Export of Goods or Services: Exporters who have paid GST on their exports are entitled to a refund, as exports are considered zero-rated supplies under GST.
• Zero-Rated Supplies: Taxpayers who have supplied goods or services at zero percent tax rate are eligible for a refund of the input tax credit they have accumulated.
• Claimed Lower Income than Presumptive Income: Taxpayers who have opted for the presumptive tax scheme and have subsequently claimed lower income than the presumptive income are eligible for a refund of the excess GST paid.
• Unutilized Input Tax Credit: Taxpayers who have accumulated input tax credit that they have not been able to utilize due to zero-rated sales or inverted tax structure are eligible for a refund.

Documents Required for GST Refund

The documents required for filing GST Refund vary depending on the type of refund being claimed. However, some common documents include:

• GSTIN (Goods and Services Tax Identification Number)
• PAN (Permanent Account Number)
• Details of outward supplies made during the relevant period
• Details of inward supplies from registered dealers
• Details of imports of goods and services attracting reverse charge
• Details of tax paid under the relevant scheme
• Refund application form (GSTR RFD-01 or other applicable form)
• Supporting documents, such as invoices, shipping bills, and tax payment challans