Refunds under GST- Latest Practice and Procedure
Timely refund mechanism is essential in a tax administration as it facilitates trade through liquidation of working capital and modernization of existing business. The Government in recent times has made changes on its online portal to streamline and standardise the refund procedures under GST regime. The claim and sanctioning procedure has now been made online replacing the manual mechanism which was introduced as a temporary measure at the advent of GST. This issue of NITYA’s Insight tries to capture the practice and procedure vis-à-vis refund claims under GST, as on date, for your perusal. The Insight tries to capture relevant clarifications / guidelines issued by the Government which need to be taken care of while filing of such claims. A taxpayer needs to be aware of such clarifications / guidelines to ensure a speedy sanction of refunds without any procedural hindrances.