At Ahuja & Ahuja Chartered Accountants, we provide reliable and efficient GST refund services to our clients in the NCR region of New Delhi, Noida, Gurugram (Gurgaon), and Greater Noida. Our team of expert and experienced chartered accountants has a proven track record of successfully handling GST refund claims for businesses of all sizes and across various industries.
Understanding GST Refunds
Goods and Services Tax (GST) is an indirect tax imposed on the supply of goods and services in India. GST refunds are a critical part of this system, allowing businesses to claim back the GST they paid on goods and services that they have exported or supplied to Special Economic Zones (SEZs). As a registered taxpayer, you may have paid more GST than the actual liability on inputs or input services used in the course of business. In such cases, you are entitled to claim a refund of the excess GST paid. However, the process of claiming a GST refund can be complex and time-consuming.
Eligibility Criteria for GST Refunds:
To be eligible for a GST refund, businesses must meet the following criteria:
- The exported goods or services must have been paid for in foreign currency, and the payment must have been received in India.
- The goods or services must have been exported within six months from the date of issue of the invoice.
- The goods or services must have been supplied to an SEZ developer or an SEZ unit.
- The GST paid on the input goods and services used in the manufacture or supply of the exported goods or services must have been claimed as an input tax credit.
- The refund application must be filed within two years from the date of the relevant export or supply.
Process of Claiming a GST Refund:
The process of claiming a GST refund varies depending on the type of refund being claimed. Here are the steps involved in claiming an IGST refund:
- File the export invoice and relevant shipping documents in the GST portal.
- File the relevant GST returns, including the GSTR-1 and GSTR-3B.
- Validate the export invoices and shipping bills using the ICEGATE portal.
- Submit the refund application form through the GST portal, along with the relevant supporting documents.
- Once the application is processed by the CBIC, the refund amount will be credited to the applicant’s bank account.
Here are the steps involved in claiming an SGST refund:
- File the refund application form through the respective state or union territory’s GST portal, along with the relevant supporting documents.
- Once the application is processed by the State GST authority, the refund amount will be credited to the applicant’s bank account.
Our GST Refund Services
We offer end-to-end GST refund services to businesses, including:
- Eligibility Assessment: Our experts analyze your GST returns to determine if you are eligible for a refund. We also ensure that all necessary conditions for claiming a refund are met.
- Refund Application: We assist you in preparing and filing the GST refund application with the GST department. Our team ensures that all required documents are in order and that the application is filed within the prescribed time limit.
- Follow-up and Compliance: We track the status of your refund application and follow up with the GST department for faster processing. We also ensure that your business complies with all GST refund-related regulations.
Why Choose Us for GST Refund?
At Ahuja & Ahuja Chartered Accountants, we understand the importance of timely and accurate GST refunds for businesses. Our team of experts has in-depth knowledge and experience in handling GST refund claims. We offer personalized attention to each client and ensure that their specific needs are met.
We use the latest technology and software to streamline the GST refund process, reducing the turnaround time and increasing accuracy. Our services are cost-effective, and we guarantee complete confidentiality of your financial information.
If you are looking for reliable and efficient GST refund services in Delhi/NCR, look no further than Ahuja & Ahuja Chartered Accountants. Our team of expert and experienced chartered accountants is committed to providing you with the best possible service. Contact us today to learn more about our services and how we can assist your business with GST refunds.