Your Comprehensive Guide to Getting GST Refund in India (2024)
It is not difficult to navigate through claiming a refund of the GST; still, business houses, financial professionals, entrepreneurs, and also individual taxpayers must understand the easiest mode of claiming these refunds. In this article, we have segregated the process of refund under GST, the eligibility criteria, and timeline so you can claim your refund . What is GST Refund? A GST refund arises from the situation where registered taxpayers have overpaid the amount of tax owed. This amount can be recovered through an online procedure on the GST portal. In a timely manner, GST refunds are crucial for businesses as well as exporters to keep cash flow and working capital healthy. Who Can Claim Refund in GST? ● Businesses and companies with excess paid taxes or ITC accumulation. ● Exporters who have paid Integrated GST (IGST) on exports. ● Individual taxpayers who have paid more in error ...