GST Refund Consultants

Globally, it is a general norm that exports should be zero rated, i.e., only the real value of goods/ services should be exported and not the taxes.  In line with this objective to make Indian exports competitive in the international markets, The Government of India has implemented various policies/ laws to ensure that exports are not burdened with excessive taxes or duties and various options have been provided to the exporters to make their exports tax-free. On similar lines, GST also provides for certain conditions where Export of services would be zero rated. Under GST regime, money is refunded under the zero-rating principle to promote exports. It has been ensured that the tax refunds are done at the earliest so that the rhythm in export growth is maintained. Refund in case of exports is possible under two scenarios:

• Exports of goods and services without payment of tax (filing LUT)
• Exports of goods and services with payment of tax (payment of IGST)

Refund under the GST law may arise under different circumstances as under. Below are the types of refund under GST.

• Exports of goods or services
• Domestic supplies
  • Supplies to SEZs units and developers
  • Deemed exports
• Inverted Duty structure
• Purchases by specified persons
  • United Nations or embassies of foreign countries in India
  • International tourists at the time of their departure from India
• Administration and compliance
  • Judgement, decree, order, Direction etc. of any appellate authorities or courts
  • Pre-deposits
  • Advance tax payments
  • Excess payments
  • Provisional assessments