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Last updated: 06 Nov, 2017  

GST.9.Thmb.jpg GSTN introduces new facility for exporters to claim refunds

exports-new012010.jpg
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SME Times News Bureau | 06 Nov, 2017
The Goods and Services Tax Network (GSTN) said on Sunday that it has introduced a utility Table 6A in the Form GSTR-1 used by exporters to claim refunds.

"Table 6A of Form GSTR1 has been introduced on the GST portal," GSTN said in a statement.

Table 6A of Form GSTR1 allows taxpayers to file export related data for the period concerned that permits processing of the tax refund on the basis of declaration made under Form GSTR 3B and Table 6A of GSTR-1.

An exporter can claim refund of Integrated GST (IGST) paid at the time of export by filling the details of the shipping bill and tax paid GST invoice in his Form GSTR1 in the relevant month.

The shipping bill filed by an exporter with customs authorities is considered to be an application for refund of the integrated tax paid on the goods exported out of India.

The GSTN said that this functionality has been made available to enable exporters to file for refund as the dates for filing of GSTR-1 for August onwards have not yet been notified and the form has not been filed.

"Every registered taxable person who has made exports on payment of IGST, other than an input service distributor or compounding taxpayer or TDS deductor or TCS collector can file Table 6A of Form GSTR-1 electronically on the GST Portal" GSTN Chief Executive Prakash Kumar said.

The table can be filed from the returns section of the GST Portal.

The refund amount would be paid either through a credit to the exporter's bank via ECS or by cheque.

In a relief to exporters, the government last month had announced that it would immediately refund exporters for the month of July and August through cheques from October 10 and October 18, respectively.

Following a meeting, the GST Council decided that this would be an interim relief, and as a long term measure e-wallets will be created for all exporters by April 1, 2018, to carry forward the refund process.
 
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INPUT TAX CREDIT
MONIKA | Fri Nov 10 06:03:04 2017
THERE IS NO CLARIFICATION FOR THE INPUT TAX CREDIT & REVERSE CHARGE BEING PAID BY THE EXPORTER AS THAT IS WHERE THE CURRENCY ROTATION IS BEING HIT. SINCE JULY THE TAX IS BEING DEPOSITED BUT NO REFUNDS SO FAR????


GOOD AND SERVICE TAX
K MURALI | Wed Nov 8 13:28:58 2017
Dear PM JI., As you know well that Indian is developing country and agriculture is our main business. BPL people are more. According to our Present Indian Economy growth and exports, GST can be as follows:- 1. No GST for - MEDICINE, FOOD, & AGRICULTURE ITEMS. EDUCATION ITEMS, Hospital service. Air/Sea/Domestics Freights. 2. GST SHOULD BE MAXIMUM 4% for all products.including Petrol & Diesel and service providers. It will helpful for MAKE IN INDIA and exports & Industrial growth.


Refund to Exporters
Kv Raja | Wed Nov 8 05:40:04 2017
Very good move tho late. Pl implement sucessfully.


IGST Refund of Export -July 2017
D D Bhatt | Wed Nov 8 04:19:30 2017
We are yet to receive refund of July 2017 We hv filed table 6A of Form GSTR-1 but it only shows that GSTR-1 already filed but no export refund of 1.25 crore is credited to our bank account so far. We are awaiting for some one to guide us to claim the export refund of July 2017 Unify Texturisers pvt ltdsurvey no 139/140 Karad village Silvassa 396230 UT of DNH GST no 26AAACU8565F1Z4


 
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