GST Refund Claim Process Simplified

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    GST refund claim process has now been simplified as it became a big issue for businesses amid liquidity problems. As per the finance ministry now submission of print out of form GSTR-2A will be sufficient to claim GST refunds as against providing invoices in respect of all purchases for a given month.

    GST Refund Claim Process Simplified
     

    GSTR-2 A is a purchase return that is aut-generated by the system. And as per the government notification, the form will serve as the evidence using which claimants can avail of input tax credit or ITC.

    But in cases where the form GSTR 2 does not features all the details in respect of the invoices against which input tax credit is being claimed, the authorities may ask for the physical copy of invoices. The notification by the government further clarified that wherein GSTR 2A carries all of the details of the invoices, officials cannot ask for copy of invoices.

    In the previous GST refund fortnights convened to expedite the GST refund settlement process, the government has cleared claims of exporters of more than Rs. 54,0000 crore till July.

    Goodreturns.in

    Read more about: gst
    Story first published: Thursday, September 6, 2018, 14:44 [IST]
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