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GST Refund

Efficient and Reliable GST Refund & Assessment Services Now At Your Doorstep!

The Goods and Services Tax (GST) is a consolidated tax system that replaces several indirect taxes to form a universal tax levied on the supply of goods and services in India. GST refund is a crucial part of these taxes, allowing individuals or businesses to claim a refund of the GST they paid on goods and services supplied or exported to SEZs or Special Economic Zones.

GST Refund

When to Appeal for a GST refund?

You can appeal for a GST refund in the following situations:

  • Refund of unused input tax credit in case of Export of goods or services
  • Refund of unused input tax credit in case of Inverted Duty Structure
  • Refund on account of Deemed exports of goods or services to SEZ etc.
  • Refund from generation/production or manufacturing of tax-free supplies
  • Excess payment due to inadvertence and mistake

GST Refund Filing: Step-Wise Process

The process of filing a GST refund goes like this:

  • First, you must ensure eligibility to claim a GST refund.
  • Next, prepare all required documents, like shipping bills, invoices and bank statements.
  • File the GST refund application on the GST portal in the prescribed format by a specified deadline.
  • Next, the GST authorities will review your application and verify your eligibility for a refund.
  • If satisfied with the claim, they will approve it, and then the refund will be credited to your account electronically.

GST Assessment

To further facilitate easy tax calculation and payment, there are provisions for different types of GST assessments, such as:

  • Provisional assessment
  • Self-assessment
  • Scrutiny assessment
  • Judgment assessment
  • Summary assessment
  • Assessment of non-filers of returns
  • Assessment of unregistered individuals

At Genuine Filings, we understand how important it is for businesses to comply with GST regulations and avoid penalties. Therefore, we use the latest software and technology to streamline GST assessments.

Process of GST Assessment

  • A notice is issued by the GST authorities asking for additional documents or information to support returns.
  • Tax authorities further conduct an on-site or off-site audit of your records to verify the correctness of the returns.
  • Based on the obtained details, tax authorities issue an assessment order specifying the final tax amount to be paid along with any fines, interest, or penalties.
  • If you disagree, you can request error rectification within 30 days of receipt of the assessment order. 

Are you looking to claim a GST refund on your expenses or purchases? Do you want help in ensuring your business complies with GST regulations and avoids penalties? Consult our experts today  and ensure timely and accurate GST compliance with our tailored services. 

Benefits of Trademark Registration

Trademark registration offers several benefits to businesses and individuals. Some of the key advantages of trademark registration are

Legal protection

Trademark registration provides legal protection to the owner of the mark by granting exclusive rights to use the mark and preventing others from using it without permission. This protection helps to safeguard the owner's investment in the brand and prevent infringement by competitors.

Brand recognition

Trademark registration helps to build brand recognition and reputation by creating a unique identity for the business. It helps to distinguish the brand from others in the market, and consumers can easily identify and associate the mark with the business.

Competitive advantage

A registered trademark gives a competitive advantage to the business by preventing others from using a similar or identical mark. This can help to attract customers and build trust and credibility with them.

Asset value

A registered trademark is an asset that can add value to the business by providing a competitive edge and creating a unique identity. It can also be licensed or sold, providing an additional source of revenue for the business.

Ready to file your Income Tax Return?

Contact Genuine Filings today for hassle-free and accurate ITR filing services!

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Ankit ji is a good person and his work is very neat and clean. I have been associated with them for the last 5 years. Till date not a single complaint has come.

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Frequently Asked Questions in GST Refund

The deadline to sanction a GST refund is 60 days from the date of receipt of the application for GST refunds.

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