New Refund Procedure for Specified Persons

Eligibility Definition: Specified persons, as per CGST Act, now entitled to claim tax refund on notified goods/services. Government Notification: Specifies conditions for refund claim process. Refund rules outlined in Central Goods and Services Tax Rules, 2017.

Application Period Extension: Specified persons must apply for refund within 18 months from quarter end of supply receipt. Refund Application Procedure: Application to be submitted to jurisdictional tax authority. Forms and guidelines available on common portal.

Background Context: Substantial period provided for smoother refund process. Aims to facilitate ease of doing business for specified entities. Government Official's Statement: Ruchi Bisht, Under Secretary to the Government of India.

Objective: Simplify tax refund process for specified entities, aligning with GST Act provisions.