GST refund

A VAT refund occurs when the VAT input value exceeds the VAT output value for a VAT reporting period. The VAT refund is submitted electronically.

India specifics

Any registered taxable person who claims refund of any tax, interest, penalty, fees or any other amount paid can file an application in FORM GST RFD-1. The form is filed electronically through the Common Portal (GSTN) either directly or from a facilitation center.

How Infor meets the requirement

FSM tracks tax amounts, both input and output tax. Use the GST ANX1 and ANX2 reports from LSP. These reports can be used to identify GST refunds for the period.

The filing of GST refund is handled outside of FSM whether it is excess or carryover.