GST Refund

GST : ITC REFUND

Refund Amount = [(Turnover of zero-rated supply of goods x Net ITC+ Turnover of zero-rated supply of services)]/Adjusted Total Turnover

Where :

(A) "Refund amount" means the maximum refund that is admissible;

(B) "Net ITC" means input tax credit availed on inputs and input services during the relevant period other than theinput tax credit availed for which refund is claimed under sub-rules (4A) or (4B) or both;

(C) "Turnover of zero-rated supply of goods" means the value of zero-rated supply of goods made during the relevantperiod without payment of tax under bond or letter of undertaking, other than the turnover of supplies in respectof which refund is claimed under sub-rules (4A) or (4B) or both;

(D) "Turnover of zero-rated supply of services" means the value of zero-rated supply of services made withoutpayment of tax under bond or letter of undertaking, calculated in the following manner, namely:-

Zero-rated supply of services is the aggregate of the payments received during the relevant period for zero-ratedsupply of services and zero-rated supply of services where supply has been completed for which payment had beenreceived in advance in any period prior to the relevant period reduced by advances received for zero-rated supply ofservices for which the supply of services has not been completed during the relevant period;

(E) Adjusted Total Turnovermeans the sum total of the value of-

(a) the turnover in a State or a Union territory, as defined under clause (112) of section 2, excluding the turnover ofservices; and

(b) the turnover of zero-rated supply of services determined in terms of clause (D) above and non-zero-rated supply ofservices, excluding-

(i) the value of exempt supplies other than zero-rated supplies; and

(ii) the turnover of supplies inrespect of which refund is claimed under sub-rule (4A) or sub-rule (4B) or both, if any, during the relevant period.‘]55

(F) Relevant period means the period for which the claim has been filed.

GST: IGST REFUND

Refund of integrated tax paid on goods or services exported out of Indiaas per rule 96 of CGST Rules 2017.

(1) The shipping bill filed by an exporter of goods shall be deemed to be anapplication for refund of integrated tax paid on the goods exported out of Indiaand such application shall be deemed to have been filed only when:-

(a) the person in charge of the conveyance carrying the export goods duly files adeparture manifest or an export manifest or an export report covering thenumber and the date of shipping bills or bills of export; and

(b) the applicant has furnished a valid return in FORM GSTR-3 or FORM GSTR-3B, as the case may be;

(2) The details of the relevant export invoices in respect of export of goodscontained in FORM GSTR-1 shall be transmitted electronically by the commonportal to the system designated by the Customs and the said system shallelectronically transmit to the common portal, a confirmation that the goodscovered by the said invoices have been exported out of India.

(3) Upon the receipt of the information regarding the furnishing of a validreturn in FORM GSTR-3 or FORM GSTR-3B, as the case may be from thecommon portal, [the system designated by the Customs or the proper officerof Customs, as the case may be, shall process the claim of refund in respectof export of goods]69 and an amount equal to the integrated tax paid inrespect of each shipping bill or bill of export shall be electronically credited tothe bank account of the applicant mentioned in his registration particularsand as intimated to the Customs authorities.

(4) The application for refund of integrated tax paid on the services exportedout of India shall be filed in FORM GST RFD-01 and shall be dealt with inaccordance with the provisions of rule 89