In case any deficiencies are noticed in form RFD-01, then RFD 03 is issued by the Refund Processing Officer. Form RFD-03 also known as Deficiency memo. In the form, the initial basic details of this memo are the same as the basic details in form RFD-02. The only addition is the address of the applicant.
The main body of the memo states is the same for all applicants only the reason keeps on changing based on the deficiency in the form RFD-01/01A. There are two options available for mentioning the reason. The first option is a drop-down where various reasons are given. If the reason for the deficiency is not available in the given drop down then the officer can mention the reason on his own in option 2.
Towards the end of the memo, the date, place, signature, name and designation of the officer is mentioned.
Important Point To Note: In case the applicant receives RFD-03 then the form RFD-01/01A is treated as invalid, the applicant needs to file a fresh return in which these deficiencies should be corrected.
In our next blog, we will cover RFD-04.
IRIS GST helps all its readers with its premium product – IRIS Sapphire which is a cloud-based GST Return Filing Software and has advanced reconciliation module with strong reconciliation rules like match invoices across FY, beyond invoice number, fuzzy logic and user-defined tolerance that helps you completely match your purchase data with GSTR 2A and maximize your ITC.