Understanding Practical Issues On Refund Under GST
Dive Deep into the complexities of GST refunds with our insightful blog. Master practical issues for smooth refund processes to empower your business!
Dive Deep into the complexities of GST refunds with our insightful blog. Master practical issues for smooth refund processes to empower your business!
Dear Professional Seniors & Friends,
Warm Greeting!
Here is our insightful post of WMCQ on concept based practical professional knowledge on practical issues on Refund under GST in a unique manner to be self-answered by participants. The detailed answer of these MCQs shall be posted next day for the self-assessment of the participants
MCQ 101.1: Mr. A has filed an application for refund of Rs 10 Lakhs. ITC reflecting in GSTR-2A of Mr. A is for Rs 8 Lakhs. Which among the following is correct?
A. Mr. A is eligible for refund of its 10 lakhs and he need to submit copy of invoices for whole Rs 10 lakhs
B. Mr. A is eligible for refund of Rs 5 lakhs and he need to submit copy at invoices for whole Rs 8 lakhs.
C. Mr. A is eligible for refund of Rs 10 lakhs and he need not to submit copy of invoices for whole Rs 10 lakhs D. Mr. A is eligible for refund of Rs 8 lakhs and he need not to submit copy of invoices for whole is a lakhs
MCQ 101.2: Mr. XYZ is allowed provisional refund of Rs 2 lakhs by refund sanctioning authority. But the same has been refused by refund disbursing authority on account of ineligible input tax credit. Which among the following is correct?
A. Refund disbursing authority cannot refuse the sanction order.
B. Refund disbursing authority can refused the sanction order.
C. Refund disbursing authority cannot refuse the sanction order but can make adjustment on account of any demand,
D. None of the above
C) Mr. A is eligible for refund of is 10 lakhs and he need not to submit copy of invoices for whole Rs 10 lakhs.
C) Refund disbursing authority cannot refuse the sanction order but can make adjustment on account of any demand.
(Disclaimer: The objective of the MCQ post is just to discuss the concept, it may happen, by change of facts, the answer may be different Please do not treat this as professional opinion; you can definitely have your own opinion.)
Get in touch with the best tax consultant in Gurgaon to get more information
Sincere Regards,
CA Sanjay Kumar Agrawal
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