Commercial GST Refund A Practical Guid By Rakesh Garg , Sandeep Garg Edition August 2024

A Practical Guide GST Refund By Rakesh Garg Sandeep Garg

A Practical Guide GST Refund By Rakesh Garg Sandeep Garg

Description

We feel immense pleasure in releasing First edition of this Book, “GST Refund – A Practical Guide”, and expressing our gratitude to the esteemed readers for their response, support and confidence in our other Books. We are grateful to the readers for their valuable suggestions. Refund is the backbone of the GST not only for the taxpayers, but also for the Government. With the implementation of GST, requirement of working capital of the traders and industries has been multiplied due to investment in indirect taxes. Since investment in tax in the GST regime is higher in comparison with erstwhile indirect tax regime, delay in release of refund by the Government disturbs the economic activities of the traders and the industry. It is also true that few persons tried to defraud the Government by taking refund of bogus input tax credit; but that

Percentage in terms of persons and quantum is very nominal. Perhaps, the main reason for evasion in first couple of years was less preparedness of the Government with regards ‘ to its computerisation and E-Systems. Nevertheless, the things are settling down gradually.

Containing

• Exhaustive Commentary in 30 Chapters
• Steps for claiming various types of Refunds
• Refund related Provisions, Rules, and Forms & Circulars
• Chapter on Critics & Suggestions on Refund Mechanism

Contents

Part – A – Guide

A-I Terminology

A-2 Refund – Grounds & Mechanism

A-3 Refund – Time Limit

A-4 Export of goods with payment of GST

A-5 Export of services with payment of GST

A-6 Export against Bond/LUT

A-7 Goods sent out of India without supply

A-8 Supplies to SEZ-with payment of tax

A-9 Supplies to SEZ against LUT

A-l0 Deemed Export

A-11 Inverted Duty

A-12 Compensation Cess

A-13 Consequence of Order or Judgment

A-14 Change of place of supply

A-15 Electronic cash ledger

A-16 Canteen Store Department

A-17 U.N., Embassies and other specified Organisations

A-18 International Tourist

A-19 Seva Bhoj Yojna

A-20 Excess payment of tax

A-21 Any other ground

A-22 Acknowledgement

A-23 Withdrawal of Refund Application

A-24 Grant of Provisional Refund

A-25 Withhold the Refund

A-26 Processing & Disposal of Refund

A-27 Entries in Electronic Ledgers

A-28 Interest on Delayed Refund

A-29 Erroneous Refund

Part – B – Provisions

B-1 GST Refunds Related Sections

B-2 GST Refunds Related Rules

B-3 GST Refunds Related Forms

B-4 Refund related important Circulars

Part – C – Critics/ Suggestions

C GST Refund – Critics & Suggestions

About the Authors

Rakesh Garg, LLB, FeA, a graduate of Shri Ram College of Commerce, Delhi and a fellow member of the Institute of Chartered Accountants of India, has been practicing as CA for more than 36 years and has specialization in Sales Tax, VAT, Service Tax, and now, GST.

He has authored a number of books during the last more. Than 20 years. His first book “Law of Sales Tax on Works Contract in Delhi” was released in 1999. Amongst others, his well-recognized books are: –

• Delhi VAT Ready Reckoner
• Concepts of Central Sales Tax
• Goods under Sales Tax Laws
• Service Tax Ready Reckoner
• Migration to GST – Enrolment, Transition and Safeguards
• HSN Code-wise GST Tariff – Rates, Notifications & Customs Codes
• Handbook of GST in India
• GST Laws Manual – Acts, Rules and Forms
• GST Guide with Ready Reckoner
• Guide to GST on Services – (HSN Code wise taxability of all services)

These books have not only been referred extensively by the business community and professionals but also appreciated by the Government Taxation Departments. For several years, he has been an advisor and convener of Indirect Tax Study Circle of N.I.R.C. of the I.C.A.I., who has also conferred upon him the Award for Exemplary Services for authoring books and contributing as faculty in seminars. He has presented papers on Sales Tax/VAT and Service Tax in countless meetings with Professionals, Corporate, ClI and other Trade Associations; and contributed as faculty in training programs ogranized by the Revenue Departments for its officers.