Good News For Traders, Gst Refund Online
Nov 01, 2019 By Admin
The GST network has started online processing of refunds on Thursday, September 25, 2019. With the introduction of this service, taxpayers will be able to fill the refund application easily and the tax authorities can process it online. Any kind of communication between the taxpayer and the tax officer will be online.
The new refund process will free taxpayers and officials from all kinds of hassles. This in turn would speed up the process of payment of refunds and improve GST compliance. Not only this, taxpayers will be able to see the various stages of processing of their refund applications on the GST portal and will also be able to reply there when any kind of notice is received.
Earlier, the processing of refunds of Central and State GST was done by the tax officer administratively for the taxpayer, but the work of giving refunds was done in different ways by the officials of the Central and State Tax Department. Thus, the process gets delayed many times. Now with the completion of processing by the tax officer under the new system, the approved amount will be credited to the taxpayer's bank account through the PFMS system.
After the completion of the important phase of processing of refund applications, information will be given to the taxpayers through SMS and email. Meanwhile, it is important to state that all refund applications filed before September 26, 2019 will be dealt with under the old refund procedure.
Published by : RAKESH KANWAR & CO.
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