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Questions on ITC/GST refund

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Gaurav

Proprietor

37 Points Posted on 18 February 2021

Hello Everyone,

I had a couple of questions about GST refunds. I have a proprietorship firm and have filed for GST refund/ITC on 5 Jan, 2021 for the last quarter of 2020 (Oct-Dec).

The accumulated ITC was for GST paid on purchase of online advertising (Google and Facebook Ads) and as I provide services through "export of services without payment of GST" to foreign clients. I was informed by a CA that I'm eligible for 100% refund for GST paid.

Now my question is how long does it take for refund/ITC application to be processed and ITC to be credited to my savings bank account, that's already added on GST portal and was also selected during filing for ITC claim?

Thanks for going through the post and look forward to your advice/answers.

Replies (2)

Quick Summary

A proprietorship firm filed for a GST refund/ITC on 5th January 2021 for the Oct-Dec 2020 quarter, claiming GST paid on online advertising for services exported without GST payment. The user is seeking information on the typical processing time for such ITC refund applications and when the credit can be expected in their bank account. The discussion also touches upon the two-year time limit for filing refund claims as per GST law.

Rama chary Rachakonda

Master in Accounts & high court Advocate

7021 Points Posted on 18 February 2021

The GST law requires that every claim for refund is to be filed within 2 years from the relevant date. Further, Section 34 of the CGST Act, 2017 provides for issuance of credit notes for post supply discounts or if goods are returned back within a stipulated time.