Unregistered persons can claim tax refunds for cancelled contracts: FinMin
Unregistered persons can claim Goods and Services Tax refunds for cancelled contracts or premature termination of insurance policies by obtaining temporary registration on the GST portal, the finance ministry has said.
The new functionality 'Refund for Unregistered person' has been made available on the GST portal and the unregistered person, who wants to file an application for a refund shall obtain a temporary registration on the common portal, using his Permanent Account Number (PAN).
In a circular, the Central Board of Indirect Taxes and Customs (CBIC) said it had received representations requesting for providing a facility to unregistered buyers/ recipients for claiming a refund of the amount of tax borne by them in the event of cancellation of the contract/agreement for the supply of services of construction of flat/ building or on termination of a long-term insurance policy.
"In order to enable such unregistered person to file application for a refund..., in cases where the .