FinKnowHub Blog

 Yes, you read it correctly. Now an unregistered person can also claim refund of GST Paid. The Government vide Circular No. 188/20/2022 dated 27th December, 2022 has clarified the procedure for such claim by Unregistered Person.  In this Article, we will summarise the significant points to be considered in this circular. I. WHAT ARE THE CASES IN WHICH A UNREGISTERED PERSON CAN CLAIM GST REFUND ? a. Unregistered Buyer had entered into a Agreement/Contract with the Builder for construction of flat/building/etc.  AND paid the amount towards consideration for such service either fully or partially along with applicable tax  AND subsequently cancels the said contract/agreement due to Non-Completion of the Flat/Building Delay in Construction Activity  Any other legible Reason b. In case of Long Term Life Insurance Policies  where Premium for the entire period is paid upfront. (Single Premium Policy) and the policy gets terminated prematurely due to some reason. ...

B efore starting with the topic let's first give you a brief overview of SIP. A SIP stands for 'Systematic Investment Plan" wherein an investor periodically makes a payment of a specified amount that gets invested in Equity, Debt or/and Gold. Indian Mutual Fund got introduced with the concept of SIP by Franklin Templeton in 1993. A n Investor has an option to put a SIP to pause subject to conditions laid down by AMC (UTI Asset Management Co. Ltd, ICICI Prudential Asset Management Co. Ltd. etc ) with which the SIP is running. Every AMC has laid down its own guidelines with respect to Pause Facility. ONLINE FACILITY: An Investor can log in to the AMCs Official Website and use the Pause Option available against each of the running SIPs. This is to noted that certain limit w.r.t. Frequency of SIP, No. of SIPs (Minimum and Maximum) and Total Pause option allowed needs to be considered first. OFFLINE FACILITY: For each of the AMC, you can avail the "PAUSE FORM" availa...