How To Track PFMS GST Refund Status (2023 Guide)

If you are curious to know how to track PFMS GST refund status, then you have come to the right place. 

As soon as the registered individual files the GST refund application, the application must go through the following phases before the refund amount is disbursed:

Phase 1: The GST Portal can be used to determine the exact stage at which the officer’s or taxpayer’s refund application is being processed.

Phase 2: The bank account validation through the Public Financial Management System (PFMS). 

After the Public Financial Management System (PFMS) has verified the bank account indicated in the refund application (RFD-01), the tax officer can issue a payment order. 

In addition to that, the tax officer’s approved return amount won’t be paid out in full until PFMS has verified the bank account specified in the payment order (RFD-05). 

As a result, the bank account is verified twice. First, the taxpayer file a refund application in Form GST RFD-01, and second, after issuing a payment order in Form GST RFD-05 through the tax officer.

This article will guide you through all the insights related to PFMS.

Let’s dive into the topic.

What is PFMS status?

PMFS is known as the Public Financial Management System. The Controller General of Accounts (CGA) developed and implemented this web-based online software application. 

PFMS started in 2009. The primary objective is to track funds released under all plan schemes of the Government of India and provide real-time reporting of expenditure at all levels of Program implementation.

Since PFMS functions as the backbone of the Indian government’s payment system and is integrated with the country’s Core Banking system, it has the unique capacity to confirm the account before sending online payments to practically every beneficiary or vendor. 

Thereafter, the scope was enlarged to cover direct payments to beneficiaries under all schemes. The outputs/deliverables for the various modes/functions of PFMS include (but are not limited to):

• Payment & Exchequer Control
• Accounting of Receipts (Tax & Non-Tax)
• Compilation of Accounts and Preparation of Fiscal Reports
• Integration with Financial Management Systems of States

Today, the primary goal of PFMS is to help the Government of India implement a strong public financial management system, developing a network for payments and cost accounting and an effective fund flow system. 

As part of the government of India’s Digital India effort, PFMS offers a real-time, trustworthy, and useful management information system as well as an efficient decision support system to diverse stakeholders.

What is PFMS Portal?

PFMS is a financial management reform initiative by the Government of India to oversee social sector programs and track funds disbursed.

The services provided by the PFMS Portal are:

Know your payment:

The service monitors payment details and tracks funds spent.

Track NSP payments:

This service tracks NSP payment details by providing the NSP application ID and mobile phone number.

What is PFMS registration process for NGOs?

The steps required for PFMS registration for NGOs are:

Registration type: Select the agency type from this drop-down list. 

Agency name: Enter the agency name in this text box (100 characters long).

Legal/Registration Number: Enter the agency’s registration number in this text box (100 alphanumeric characters).

Registration date: Use the date picker tool in this text box to select the agency registration date. The selected date must be before the current date.

Registering Authority: Enter the agency’s registrar in this text field (256 characters). 

State of Registration: Select the state in which your company is registered from this drop-down list. 

TIN number: Enter your TIN (Tax Identification Number) in this text field (20 characters).

Tan number: Enter your TAN (Tax Deduction and Collection Account Number) in this text field ( 20 alphanumeric characters).

Address 1: Enter the agency’s full address in this text box ( 50 characters long).

Address 2: This is an optional field. If the agent’s address exceeds her Address1 textbox, the agent must enter the address in this textbox.

Address 3: This is also an optional field and can be left blank.

City: In this text box, enter the name of the city where your agency is located (25 characters).

State: Select a status from this drop-down list. 

District: Select a district from this drop-down list. When you select a state from the State drop-down list, the corresponding countries for that state are in the County drop-down list.

PIN Code: Please enter the PIN code for the agency location (6 digits).

Contact Person: Enter the agency contact’s name in this text box ( 256 characters).

Phone number: Enter the agency’s phone number in this text box (20 characters).

Alternate Phone/Mobile Number: Enter your agency number in this text box (50 characters).

Email: Enter a valid email ID in this text box (50 characters). Your registered agency credentials will be sent to this email id.

Unique agency code: Enter a unique agency code in this text box. This agency code can be used as your agency login ID (50 characters). 

Word verification: In this text box, enter the characters that appear above the word confirmation text box. This is a required field and you will not be able to complete the agency registration process without completing this field.

Next: Click the Next button to proceed with the registration process. Clicking this button will open the bank details of the scheme. Alternatively, click the Cancel button to abort the registration process and direct the user to the agency registration home page.

How can I track my PFMS transaction?

Follow the guidelines below to track your PFMS transactions and bank balance

Step 1: Access the PFMS site from the URL https://pfms.nic.in/NewDefaultHome.aspx

Step 2: Click the Know Your Payments link on the home page.

Step 3: Fill in the following details:

• Enter the bank name and account number confirmation.
• OTP received on your registered mobile number.
• Your balance, bank, funds, etc.

How can I check my PFMS payment status?

In order to track the bank account validation on the PFMS portal, the registered taxpayer must follow the steps below:

Steps:-

1: Visit the Official PFMS portal.

2: Here select the option GSTN Tracker. 

3: Under the GST Registered option, input your GSTIN number or account number and enter the Captcha Code. 

4: Now click on View Report to see the validation status.

However, the taxpayer must these steps to track the bank account validation after the issuance of the refund order in Form GST RFD-05.

Steps:-

1: Go to the official PFMS portal.

2: Click on the GSTN Tracker.

3: Here, first select the “GST Successfully Processed“ option.

4: Enter your GSTIN number or account number. Next, input the GST RFD 05 number (Note: it is optional to enter GST RFD 05).

5: Type the captcha code you see in the image and click on “View Report.”

Note: If you are not able to find your record under ‘GST Successfully Processed’ this means the validation failed. 

Now you can select the second option, “GST Under Process”.

Enter your GSTIN or account number. After that, tap on the “View Report” button.

Here you can see the error descriptions for validation failures.

When is PFMS account validated?

Bank account details will be sent to PFMS for verification in the following stage:

• When the taxpayer submits a claim for a refund
• When taxpayers update their bank accounts
• When Form GST RFD-05 is issued by the Tax Officer

How to validate a bank account in PFMS for a GST refund?

Here are the options to validate your bank account with PFMS for a GST refund:

• Select a different bank account from the Select Account Number drop-down list.
• Submit a non-core registration change request to add a new bank account or correct the details of an existing bank account, then update the bank account.

The refund request form will be updated with the new bank account along with the reference number. The tax officer will continue to process the refund request and payment of the refund amount will be credited to the selected account in the amount authorized.

Which banks are linked to PFMS?

Here is the list of banks linked to PFMS:

What is the benefit of PFMS?

PFMS is a transaction-based system used to offer real-time utilization of funds released from the Indian Consolidated Fund. The PFMS has been developed in such a way that it can satisfy all end-to-end accounting and fund management requirements.

The PFMS will automatically include all transactions initiated for Aadhaar-based payments as part of fund utilization. The integration of PFMS with an accounting package is currently being worked on to meet the accounting requirements of various departments and implementing agencies.

The Utilization Certification (UC) Module is a component of PFMS that will be used to track and monitor UCs from implementing agencies.

Frequently Asked Questions (FAQs)

1. What is PFMS under GST?

PFMS is a Public Financial Management System for schemes of the Indian government, which can be used for state schemes. It is necessary to undergo bank account validation to obtain a GST refund. 

A registered taxpayer needs to track the bank account validation post-filing the GST refund application via the PFMS portal.

2. Is PFMS Government or private?

PFMS, or the Public Finance Management System, is a government-based online application that is implemented by the Controller General of Accounts (CGA), the Department of Expenditure, Ministry of Finance, Government of India.

3. How do I contact PFMS?

You can contact PFMS at this Toll-Free number: 1800118111. Alternatively, they can resolve their queries by sending a mail to helpdesk-pfms@gov.in

4. Is PFMS safe?

Yes, the Public Finance Management System (PFMS) has been identified as the Government of India’s trustworthy, safe, and secure payment platform.

Conclusion 

We hope we have cleared all your queries on how to track the PFMS GST refund status. If you are facing any other issues in tracking the refund status, please comment below. To know more about GST-related topics, visit our website, InstaFiling. We are always happy to help you.

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