Exporters can claim refund this week for GST paid in Aug., Sept.

Exporters can soon start claiming refunds for GST paid in August and September as GSTN will this week launch an online application for processing of refund, its Chief Executive Officer Prakash Kumar said on Monday.

GST Network (GSTN), the company handling IT infrastructure for the indirect tax regime, has from October 10 started issuing refunds to exporters for Integrated GST (IGST) they paid for the month of July, after matching GSTR—3B and GSTR—1.

For August and September, while the initial return GSTR- 3B has already been filed, the final return GSTR-1 has not yet been filed.

“A separate online app for claiming Integrated GST (IGST) refunds for August and September would be made available on GSTN portal this week,” Mr. Kumar told PTI.

GSTN has developed the app wherein exporters can save and upload their sales data which are part of GSTR-1 after filling up export details in Table 6A.

The table will be then extracted separately and after exporters digitally sign it, it would automatically go to the customs department.

The customs department will then validate the information provided in the table with the shipping bill data and also the taxes paid in GSTR-3B.

The refund amount would be either credited to exporter’s bank account through ECS or a cheque would be issued.

As per data, 55.87 lakh GSTR-3B returns were filed for July, 51.37 lakh for August and over 42 lakh for September.

news source : http://www.thehindu.com/business/Economy/exporters-can-claim-refund-this-week-for-gst-paid-in-aug-sept/article19907154.ece

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