After implementation of GST in India, it was difficult for several exporters in claiming GST refunds. Service exporters found it more troublesome with the refunds as the process is more complex than for goods exporters.
Now with us at Venture Support, the process and paperwork become easy and hassle-free.
With a dedicated team of experts having good experience in the field of Indirect Taxation and have worked in all ERP platforms.
According to the IGST Act, export of goods means the transport of good from India to places outside India.
Export of services means the supply of services where the supplier are in India but the service recipient is outside India.
Supplier and recipient of services are distinct people
All service exporters in India, which include companies providing services to parent companies, overseas.
Any individual making a Zero Rated Supply can opt for any of the two below mentioned options, as per Section 16(3) of the IGST Act:
A manufacturer's shipping bill itself is considered as an application for refund and gets a refund directly in their bank account. No separate application is needed.
But for service exporters, the process is different. They cannot get direct GST refunds in their bank account. To get a refund, then they must go through the filing of documents with the company's jurisdictional GST officer. The differentiation is made because services are intangible and there is no documentation trail for exports.
There is no prescribed of any process for online GST refunds, yet. The documents for claiming an offline refund are mentioned below:
The claims must be filed within the expiry of 2 years from the date of exports. For service exporters, the relevant date is either:
Cases delayed for a period of over 60 days will get interested at the notified rate till the date of refund.
Venture Support will assist you in the paperwork and carry out the process smoothly for you. Our team of experts would take care of the paper works while you could invest your time and effort into your business.
Book a free, one hour consultation for us to answer all of your questions!
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