GST refunds are a significant source of working capital for exporters and manufacturers. However, the refund process is complex — deficiency memos, officer queries, and portal issues are common. A professional refund consultant ensures that the refund is claimed correctly and recovered in full.
This article explains the refund services a CA firm provides.
Refund Categories
- Export of goods under LUT/Bond: Refund of unutilised ITC under Section 54.
- Export of goods with payment of IGST: Refund under Rule 96.
- Inverted duty structure: Refund of accumulated ITC.
- Excess tax payment: Refund of excess tax paid.
Services Provided
- Eligibility review: Determining the correct refund category.
- Reconciliation: Matching GSTR-1, GSTR-3B, and GSTR-2B.
- Documentation: Preparing invoices, FIRC/FIRMS, shipping bills, and LUT.
- Form RFD-01 filing: Preparing and filing the refund application.
- Deficiency memo response: Responding to officer queries and deficiency memos.
- Follow-up: Tracking the refund until disbursement.
Common Refund Issues
- Deficiency memos: Incomplete documentation.
- ITC mismatch: GSTR-2B and books not reconciled.
- LUT missing: Export without valid LUT.
- Proceeds not realised: Export proceeds not received within 9 months.
Conclusion
GST refunds are a legitimate cash flow tool for exporters and manufacturers. A professional consultant ensures that the refund is claimed correctly, deficiency memos are addressed promptly, and the refund is recovered in full.
At Anuj Desai & Associates, we provide expert GST refund services for exporters and manufacturers. Our team handles eligibility review, documentation, filing, and follow-up.
For a confidential consultation, contact us at office@anujdesaiassociates.com or call 9619456656. Visit our website at https://anujdesaiassociates.com or connect with our founder on LinkedIn at linkedin.com/in/ca-anuj-desai-122547230.