Refunds under indirect tax laws may arise due to many reasons, be it excess tax deposited by mistake, export of goods or services, refund under any decree of court, some wrong calculations done by the dealer or otherwise. At present all the registered dealers under existing tax structure find it very hard while claiming refund from the various departments of indirect taxes in India, particularly service tax department. Though in an attempt to provide timely refunds to a registered person, provisions of provisional refunds have been made under GST, however we are not sure whether this idea of provisional refund will really work or will it be like an old wine in a new bottle?. In this article we will discuss all about refunds under the proposed GST regime.
May 15, 2017 at 02:02PM