Master in Accounts & high court Advocate
9610 Points
Posted on 12 September 2024
It seems like you've received a deficiency memo (RFD-03) for your export refund claim (RFD-01) due to a missing undertaking required under Section 16(2) and Section 42(2). Here's a step-by-step guide to help you address this: 1. *Understand the requirement*: Section 16(2) and Section 42(2) mandate an undertaking to be submitted along with the refund application. This undertaking is a declaration that you've not claimed input tax credit (ITC) on the inputs used for exporting goods. 2. *Prepare the undertaking*: Draft an undertaking stating that you haven't claimed ITC on the inputs used for exporting goods. You can use a format like this: "We, [Your Company Name], hereby declare that we have not claimed input tax credit (ITC) on the inputs used for exporting goods for which we are claiming a refund under RFD-01." 1. *Submit the undertaking*: Attach the undertaking to your refund application (RFD-01) and resubmit it to the authorities. 2. *Respond to the deficiency memo*: Reply to the deficiency memo (RFD-03) stating that you've submitted the required undertaking and request them to proceed with processing your refund claim. 3. *Follow up*: Ensure you receive an acknowledgement of your resubmitted application and follow up with the authorities if necessary. By following these steps, you should be able to address the deficiency and move forward with your export refund claim