GST Refund is a process through which a taxpayer can claim back money from the government in specific scenarios, such as when they have paid tax in excess or have accumulated tax credit that cannot be used. This usually happens in the case of exporters (who don’t pay output tax) or businesses under an “Inverted Duty Structure” (where the tax on raw materials is higher than the tax on the finished product). The process involves filing a detailed application with supporting evidence to prove that the tax burden has not been passed on to the customer.
Eligibility & Criteria
- Deadline: Must be filed within 2 years from the relevant date (e.g., date of export).