Refund application RFD-01 filled by the taxpayers shall be processed electronically i.e. online as the online processing of refund application and single authority disbursement has been implemented.



After validation of bank account refund amount is transferred by accredited bank of CBIC i.e. Central Board of Indirect taxes and Customs through Public Finance Management System (PFMS).



STEPS FOR REFUND:

For refund we have to fill RFD-01A i.e. Refund Application online, as RFD-01 form has been disable on the portal. The taxpayer will need to change/ edit the bank account details (through non-core amendment in registration in REG-14) if there is failure of bank account validation by PFMS. After performing this step, the taxpayer needs to enter the updated bank account by clicking on ‘Update Bank Account’ functionality provided with the ARN of the refund application. The taxpayer shall be able to view the status of bank account validation on his dashboard. It will also be communicated through e-mail/ SMS.

In RFD-02 we will get acknowledgement. The tax officer shall issue RFD-02 electronically to the taxpayer previously it was given by tax officer manually.

RFD-03 is deficiency Memo. Once RFD-03 has been issued against an ARN, the taxpayer is required to file a fresh refund application. The taxpayer will receive communication through email and SMS. Previously The tax officer issued RFD-03 manually and there was no auto recredit of ITC/cash.



RFD-04 is Provisional Refund Order The taxpayer shall be able to view the provisional sanction order in RFD-04 on his dashboard. The taxpayer will receive communication through email and SMS.



RFD-05 is Payment order The bank account details mentioned in the refund application shall be validated by PFMS after issuance of RFD-05 by the tax-officer. The taxpayer will need to change/ edit the bank account details (through non-core amendment in registration in REG-14) if there is failure of bank account validation by PFMS. After performing this step, the taxpayer needs to enter the updated bank account by clicking on‘Update Bank Account’ functionality provided with the ARN of the refund application. The taxpayer shall be able to view the status of bank account validation and disbursement on his dashboard. The taxpayer will receive communication through email and SMS.



RFD-06 is the final refund sanction / Rejection Order. The taxpayer shall be able to view the final sanction/ rejection order in RFD-06 on his dashboard.



RFD-07 is Withholding order, the tax officer shall issue RFD-07B electronically to the taxpayer. The taxpayer shall be able to view the withhold order in RFD-07B on his dashboard.



RDF-08 is Show Cause Notice The taxpayer is expected to give reply to the SCN within 15 days of receipt of the SCN. If the taxpayer doesn’t respond within 15 days of the issuance of SCN, the tax officer can take action on the refund application.



RFD-09 is Reply to Show Cause Notice by the Taxpayer. The taxpayer shall be able to reply to the SCN and upload supporting documents online through RFD-09.



PMT-03 Order for Recredit of Rejected Amount With the issuance of PMT-03, the inadmissible ITC shall get recredited to the electronic credit ledger of the taxpayer automatically. The taxpayer is required to give an undertaking that he will not file an appeal against the refund order if he/she desires to get a recredit of the rejected amount. This undertaking has to be submitted to the tax officer manually. The taxpayer shall be able to view the recredit order in PMT-03 on his dashboard.

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URL : https://www.legalraj.com

Blog ID : 247476

Category : Finance

Date Added : 8-11-2019

Tags : electronically | processing

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