GST Refund for Services Exports


Filing of refund application under GST Laws of Multinational Companies who don’t have required expertise to take care of cumbersome procedures involved.

About the Client

A Multinational company, who is engaged in export of services with payment of IGST or export of services without payment of IGST under Letter of Undertaking (LUT), can eligible for refund of IGST paid or accumulated ITC due to non- payment of IGST respectively.

Problem Statement:

Multinational companies, whose presence over various countries require expertise to handle cumbersome procedures involved in filing of GST refund application, preparation of necessary documentation as required by the concerned authority, representation before authorities and continuous follow up the authorities to grant refund claim.
Due to blockage of amount in accumulated ITC or with the government it would affect working capital requirements adversely there by interest on borrowing might be increased.
Further filing of Refund application is time consuming activity and involves lot of paper work which effects the regular day to day operations of business.

Methodology:

Filing of Refund application involves following procedures:

  • Filing of online refund application.
  • Filing of online refund application.
  • Preparation of necessary pre- documentation like annexure-A as required by law.
  • Reconciliation between ITC claimed and ITC reflecting in GSTR-2A which involves identification of missed credit.
  • Manual submission of documents to concerned authority after filing of refund application.
  • Preparation and submission of documents as required by the authorities.
  • Representation before authorities.
  • Continuous follow up the authorities to grant refund claim
  • All necessary procedures in relation to refund claim.

Results

With the assistance of APT Team, the client has filed the refund application, handled all cumbersome procedures and successfully received refund claimed without any effect on regular day to day operations of the business and results into effective utilization of time and resources with out recruiting any additional Employees.
And with the consistent support of APT Team to get refund from government, client was able to cope up their working capital requirements and resulted in saving of interest on borrowings due to early receipt of refund aids the successful in achieving a cost reduction.
The convenience in working with APT Team is that client has to pay professional fee only after the refund amount is successfully credited to his bank account.

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