The GST Council met for the 45th Time on 17th September 2021 under chairmanship of the Hon’ble Finance Minister. In the 45th GST Council meeting, Major decisions were taken around the revision of GST rates on various goods such as COVID-related medicines, Paper Products, Waste of plastic, etc., and various other services also. Recommendations are also made around streamlining compliance under GST.
In the given case, M/s F1 Auto Components P ltd (“The Petitioner”) received an order wherein tax liability was paid through balance lying in electronic Credit Ledger and remaining amount was paid through cash remittance. However, the respondent levied interest on both payments under Section 50.
Under Goods and Service Tax (“GST”), refund is admissible on various grounds. Refund application is filed in form GST RFD-01 and different supporting documents are required to be filed along with refund application for different type of refund applications. Any deviation in supporting documents can lead to rejection of a refund application.
By CA. Vipin Tyagi
Last update on August 12,2021
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