GST Refund A Practical Guide

Author: Rakesh Garg & Sandeep Garg

Year: April 2023

We feel immense pleasure in releasing First edition of this Book, “GST Refund – A Practical Guide”, and expressing our gratitude to the esteemed readers for their response, support and confidence in our other Books. We are grateful to the readers for their valuable suggestions. Refund is the backbone of the GST not only for the taxpayers, but also for the Government. With the implementation of GST, requirement of working capital of the traders and industries has been multiplied due to investment in indirect taxes. Since investment in tax in the GST regime is higher in comparison with erstwhile indirect tax regime, delay in release of refund by the Government disturbs the economic activities of the traders and the industry. It is also true that few persons tried to defraud the Government by taking refund of bogus input tax credit; but that

Percentage in terms of persons and quantum is very nominal. Perhaps, the main reason for evasion in first couple of years was less preparedness of the Government with regards ‘ to its computerisation and E-Systems. Nevertheless, the things are settling down gradually.

Containing

• Exhaustive Commentary in 29 Chapters
• Steps for claiming various types of Refunds
• Refund related Provisions, Rules, and Forms & Circulars
• Chapter on Critics & Suggestions on Refund Mechanism