The Goods and Service Tax Network on 28th March 2020 in its news and update column has issued an advisory on tracking GST refund application status on GSTN portal which helps the taxpayer to know the stage at which the pending refund application is with the tax officer.
Previously, the exact detailed status of bank account validation was not available on the GST Portal. The Public Financial Management System (PFMS) of the Controller General of Accounts (CGA) has made available a central portal to track the status of bank account validation and disbursal of refund amount.
By visiting the PFMS portal through the link the taxpayer can track the status of bank account validation. The following are the stages of bank account validation:
- A tax officer can issue payment orders only after the Public Financial Management System (PFMS) has validated the bank account mentioned in the refund application(RFD-01).
- The final disbursement of refund amount sanctioned by the tax officer happens only after PFMS has validated the bank account mentioned in the payment order (RFD-05).
Click here to read the Notification.
