CBIC has issued circular of Clarification on refund related issues.
Majorly covering below aspects:
1. Bunching of refund claims across Financial Years.
2. Refund of accumulated input tax credit (ITC) on account of reduction in GST Rate
3. Change in manner of refund of tax paid on supplies other than zero rated supplies
4. Guidelines for refunds of Input Tax Credit under Section 54(3)
5. New Requirement to mention HSN/SAC in Annexure ‘B’
The details of these issues can be read in the circular here : circular_refund_135_5_2020.pdf
To track the status of refund application has been available on the GST portal. By utilising this functionality, the taxpayers can know the stage at which the refund application is pending with the tax-officer/ taxpayer. A tax officer can issue payment order only after Public Financial Management System (PFMS) has validated the bank account mentioned in the refund application (RFD-01).
Similarly, 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). Thus, validation of bank account takes place at two stages. However, the exact detailed status of bank account validation is 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 at :
the taxpayer can track the status of bank account validation.