Tag: Refunds
The GST regime aims to simplify and standardize refund procedures through an automated, tech-driven mechanism for timely processing and disbursal of refunds. This guide covers types of refund, process, …
A comprehensive guide on provisions and procedures for claiming refund of unutilized input tax credit (ITC) under GST due to zero rated supplies and inverted duty structure.
Discover the efficiency of Income Tax Department from the fact that 88% of verified ITRs (AY 2023-24) have been processed as of September 5, 2023.
Discover the latest clarifications on GST refunds in CBIC Circular 197/09/2023. Gain insights on key issues and ensure compliance for smooth refund processes.
Explore the new feature on the e-Filing Portal of the Income Tax Department, called "Know Your Refund Status", for taxpayers to monitor refund status in real-time.
CBDT notifies amended monetary limits for condonation of delay in claims for refund/ loss carry forward u/s 119(2)(b) of the Income Tax Act, 1961, vide Circular 7/2023, effective June …
CBIC has prescribed the procedure for filing GST refund application in the case of unregistered persons (URDs), vide Circular 188/20/2022 dt. 27/12/2022. CBIC received representations requesting the provision of …
CBIC issues instructions on the procedure for sanctioning IGST refunds withheld in accordance with Rule 96(4)(c), which are transmitted to the jurisdictional GST authorities in accordance with Rule 96(5A) …
CBIC has issued clarification on issues related with refunds of unutilized input tax credit (ITC), accumulated due to an inverted duty structure, u/s 54(3) read with Rule 89(5) and …
The Finance Act 2022 added a new IT Section 239A, which provides for a refund of tax deducted (TDS) u/s 195 on any income (other than interest income) by …
