GST Refund Advisory
GST law allows refunds in specific situations such as exports, inverted duty structure, excess balance in electronic cash ledger, and tax paid under protest.
Refund categories include:
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Export of goods/services under LUT
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IGST paid on exports
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Inverted duty structure refunds
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Excess electronic cash ledger balance
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Refund arising from appellate orders
Refund processing requires:
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Preparation of prescribed statements
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Matching of shipping bills and invoices
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Bank realization verification
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ITC validation
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Response to deficiency memos
Proper documentation and reconciliation significantly impact refund approval timelines.