Refund of accumulated ITC

[Kaustubh Karandikar]

XYZ is filing refund claim on monthly basis for accumulated ITC due to continuous exports. However, some of the suppliers are filing quarterly returns and therefore the same is not appearing in GSTR – 2A on portal. To this extent the refund amount is not paid. Can XYZ file refund claim after end of the quarter instead of on monthly basis? If yes, under which provisions?

[Shilpi Jain]

The refund claim need not be filed for each month. It can be file for any length of period. Quarterly or half yearly or yearly etc. Pls check circulars issued. Must be available in circular 125 being the consolidated master circular

[Prakash and Thiagarajan]

You may also refer to Circular No.135/05/2020 - GST which covers bunching of refund claims across financial years.

AI Summary

Refund of accumulated input tax credit: claims may cover any chosen period; monthly filing is not mandatory under GST.
Refund claims for accumulated input tax credit due to continuous exports need not be filed monthly; taxpayers may file consolidated refund claims for any chosen period (eg quarterly, half yearly or yearly), and GST circular guidance addresses aggregation of periods and bunching of refund claims when credits are not reflected in portal returns.