VAT refund returns form and online application process:
When the input tax is greater than the output tax on a VAT return, the taxpayer can request a VAT refund after filing their VAT return.
The Taxpayer isrequired to complete the VAT refund application ‘Form VAT311’.
The following are the steps to submit VAT refund form:
Login to FTA e-Services Portal using your username and password
In order to access the refund form, navigate to the ‘VAT’ tab and then to the ‘VAT Refunds’ tab
On clicking ‘VAT Refund Request’, the refund form will open. Fill the details in all the applicable fields. Mandatory fields are mandatorily to be completed in order to submit the Refund Form. Most of the details are auto-populated.
FTA also requires full list of transactions of standard rated sales, zero rated sales, imports, out of scope transactions, taxable purchases and taxable expenses. In addition FTA may also request for top 5 transactions related supporting documents in each of the category to be submitted along with the list.