Excess money in cash ledger refundable even two yrs after paying GST: CBIC

Decision will ease cash flow of companies as govt lifts time bar. Earlier, assessees could not take refund of this money after two years

Those who have excess money lying in the cash ledger for the purpose of paying goods and services tax (GST) would be able to take it out even after two years of the date of paying tax, a move that would ease the cash flow of the companies. Currently, assessees cannot take the refunds of this money after two years. That time bar has been lifted by the government.  

The Central Board of Indirect taxes and Customs (CBIC) has issued necessary clarifications in this regard.

A taxpayer claiming refund under GST is required to file a refund application to the