There can be some mistakes while filling GST challan for making the GST payment which may also make you pay an excessive amount. This excess amount is shown as a balance in the Electronic Cash Ledger. This balance can be claimed as a refund by submitting a refund application form RFD-1. This excess amount of GST paid can be claimed as a refund only within 2 years from the date of payment. This can be done online on the GST portal.
Steps to claim GST refund:
1. Login to the GST portal
2. Go to ‘Services’ then ‘Refunds’ and then ‘Application for Refund’
3. Now, select ‘Refund of Excess Balance in Electronic Cash Ledger’ and click on ‘CREATE’
4. Once you click on ‘CREATE’ all balances will reflect in the Electronic Cash Ledger which can be claimed as refund. You can enter the amount of refund to be claimed in the editable ‘Refund Claimed’ table
5. Select the Bank Account in which you want the refund amount to be credited from the drop-down and then click on ‘SAVE’
6. Lastly, click on the checkbox in the declaration. Select the name of the ‘Authorised Signatory’ from the drop-down and based on the type of your organization click on ‘SUBMIT WITH DSC’ or ‘SUBMIT WITH EVC’
Once RFD – 1 form is filed, refund ARN Receipt is generated in a PDF format. The refund amount will be credited to the bank account after inspection by a GST officer.
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