News Details- (Get Professional Updates on Whatsapp, Msg on
8285393786) More
News
GSTN eases process for exporters to claim refunds
PrintThe Goods and Services Tax Network (GSTN) has said that it has introduced a utility Table 6A in the Form GSTR-1 used by exporters to claim refunds. In a statement yesterday, it said Table 6A of Form GSTR1 has been introduced on the GST portal.
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. GSTN Chief Executive Prakash Kumar said 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.
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. #casansaar (Source - NewsonAir)
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. GSTN Chief Executive Prakash Kumar said 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.
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. #casansaar (Source - NewsonAir)
Category : GST | Comments : 0 | Hits : 426
Get Free Daily Updates Via e-Mail on Income Tax, Service tax, Excise and Corporate law
Search News
News By Categories More Categories
- Income Tax Dept serves notices to salaried individuals for documentary proof to claim exemptions
- Bank Branch Audit 2021 - Update on allotment of Branches
- Bank Branch Audit 2020 Updates
- Bank Branch Audit 2021 Updates
- Bank Branch Audit 2020 - Update on Allotment of Branches
- Police Atrocities towards CA in Faridabad - Its Time to be Unite
- Bank Branch Statutory Audit Updates 2019
- Bank Branch Statutory Audit Updates
- Bank Branch Audit 2022 Updates
- Bank Branch Statutory Audit Updates
- NFRA Imposes Monetary penalty of Rs 1 Crore on M/s Dhiraj & Dheeraj
- ICAI notifies earlier announced CA exam dates despite pending legal challenge before SC
- NFRA debars Auditors, imposes Rs 50 lakh penalties for lapses in Brightcom, CMIL cases
- GST Important Update - Enhancement in the GST Portal
- NFRA Slaps Rs 5 lakh Penalty on Audit Firm for lapses in Vikas WSP Audit Case
- CBDT extends due date for filing Form 10A/10AB upto 30th June, 2024
- RBI comes out with FEMA regulations for direct listing on international exchange
- RBI directs payment firms to track high-value, fishy transactions during elections
- NCLT orders insolvency proceedings against Subhash Chandra
- Income Tax dept starts drive to dispose of appeals, 0.54 million at last count
- Payment of MCA fees –electronic mode-regarding
- Budget '11-12' Parliament Completes Approval Exercise
- Satyam restrained from operating its accounts
- ICICI a foreign firm, subject to FDI norms: Govt
- Maha expects Rs 15 crore entertainment tax revenue from IPL
- CAG blames PMO for not acting against Kalmadi
- No service tax on visa facilitators: CBEC
- Provision of 15-minutes reading and planning time allowance to the candidates of Chartered Accountants Examinations
- Companies Bill to be taken up in Monsoon Session
- File Service Tax Return in time as Maximum Penalty increased 10 times to Rs. 20000
Comments