The Central Board of Indirect Taxes and Customs (CBIC) has launched a special drive to clear all pending GST refunds by month-end. The 15-day Goods and Services Tax (GST) refund drive is on the traces of an ongoing related drive organized by the CBIC for a refund of customs and obligation disadvantage claims.
In an instruction to all Principal Commissioners of Central Tax formations, the CBIC mentioned there’s a want to deal with well timed disposal of all pending GST refund claims so as to present quick aid to enterprise entities, particularly MSMEs, within the troublesome instances of second wave of the COVID-19 pandemic.
“It is hereby instructed that a ‘Special GST Refund Disposal Drive’ will be launched by all Central Tax formations during the period from 15th May 2021 to 31st May 2021 for processing and disposal of all pending GST refund claims on priority,” it mentioned.
The CBIC additional mentioned that the GST legislation offers 15 days for issuing acknowledgement or deficiency memo and whole 60 days for disposing of refund claims with none legal responsibility to pay curiosity.
“It is, however, expected that all Central Tax formations will take up all the pending GST refund claims for processing on priority and endeavour to dispose them of much earlier than the statutory time limits, preferably before a period of 30 days from the date of receipt of the refund application,” the CBIC added.
It is anticipated that in this special drive, all GST refund claims, pending as on May 14, shall be disposed of by May 31, 2021. The tax officers will coordinate with the key commerce and trade associations (particularly those who cater to exporters and MSMEs) for the help and handholding of taxpayers, together with for submission of required paperwork/ reply by the taxpayers (if a declare is pending for need of a required doc/ reply to discover, and so on).
The CBIC additionally requested taxmen to be certain that communication with taxpayers is finished by the GST portal, or if want be, by e-mail utilizing the official e-mail ID of the officer.
All communication with taxpayers should be accomplished by the GST portal, or if want be, by e-mail utilizing the official e-mail ID of the officer. The Special Refund Disposal Drive must be extensively publicised among the many commerce and trade.
“It is urged that in these difficult times, all central tax officers should endeavour to make their best efforts and contribution in the fight against COVID-19, by liquidating the pending GST refund claims by May 31, 2021,” the CBIC added.