Form RFD-01 is a form used by taxpayers registered under the Goods and Services Tax (GST) system in India to claim a refund of taxes paid on input services used in the course of business. The form requires the taxpayer to provide details such as GSTIN (Goods and Services Tax Identification Number), tax period for which refund is claimed, amount of tax paid, and other supporting documents such as invoices, shipping bills, and bank. SRV Associates can assist you in the process.
- Any registered GST taxpayer may request a
- refund using form RFD-01 or RFD-01A.
- Only when the reimbursement exceeds
- hundreds of rupees will a refund be started.
- RFD-01 is an application for the online
- processing of a GST refund.
- It must be submitted using the GST portal.
RFD-01A is a copy of RFD-01 that was
created as a workaround until the online facility for refund claims was made
Refund Categories for RFD-01
- Refund based on preliminary and appeal assessments.
- Insufficient balance in the computerised cash ledger
- Services and goods export (tax paid).
- Items and services exported (tax not paid).
- Tax paid under the CGST and SGST, which is then treated as IGST, or the opposite.
- A SEZ facility and a SEZ developer received supplies.
- Overpayment of taxes
- ITC accumulated as a result of paying more tax on inputs than outgoing supplies.
Refund Categories for RFD - 01A
- The RFD-01A form can be used to request the following GST refund types, which are being manually processed.
- ITC on exports pursuant to a bond or letter of undertaking.
- Reclamations for considered exports.
- IGST paid on supplies with zero rating.
- Surplus in the electronic cash ledger.
- Refund request due to the inverted duty structure.
- The taxpayer’s monthly returns might additionally include a claim for the excess amount in the Electronic Cash ledger.
- For instance, the GSTR 3, GSTR 4, or, depending on the situation, the GSTR 7.
Time Limit and RFD-01 Filing Frequency*
- Within two years of the pertinent date in RFD-01/ RFD-01A, a refund claim must be submitted
- For the following situations, a monthly RFD-01A must be submitted
- Refund requests for supplies that are zero-rated.
- In the case of the Inverted Duty Structure, refund claims.
- Refund requests for deemed exports.
- Return of the unused portion of the Electronic Cash ledger’s balance.