Rule 77 of ‘Central Goods and Services Tax (CGST) Rules 2017’: Refund of Interest Paid on Reclaim of Reversals
Provisions under Rule 77 of the Central Goods and Services Tax (CGST) Rules, 2017 relating to “Refund of Interest Paid on Reclaim of Reversals”, are as under:
CGST Rule 77: Refund of Interest Paid on Reclaim of Reversals (Chapter-VIII: Returns)
The interest to be refunded under sub-section (9) of section 42 or sub-section (9) of section 43 shall be claimed by the registered person in his return in FORM GSTR-3 and shall be credited to his electronic cash ledger in FORM GST PMT-05 and the amount credited shall be available for payment of any future liability towards interest or the taxable person may claim refund of the amount under section 54.
Above information is based on CBEC’s compilation of Updated CGST Rules, 2017 as on 23 Mar. 2018 (i.e. as notified/ amended upto 23 Mar. 2018 by the CBEC). For detailed information/ subsequent updates, please refer relevant Notifications.
It may be noted that Rules 27 to 137 (pertaining to various Chapters) of the Central Goods and Services Tax (CGST) Rules, 2017 were notified by CBEC vide CGST (2nd Amendment) Rules, 2017 Notification No. 10/2017 Central Tax dt. 28 June 2017, applicable w.e.f. 1 July 2017.