Post-collection timeframes for collecting excess sales tax vary depending on the jurisdiction. Here are some general guidelines:

Refund Timeframes

1. Immediate Refund: Some jurisdictions, like the US, allow for immediate refunds of excess sales tax paid.
2. Within 30-60 days: Many jurisdictions, such as Canada and Australia, require refunds to be issued within 30-60 days of the refund claim.
3. Within 6-12 months: Some jurisdictions, like the EU, allow for refunds to be issued within 6-12 months of the refund claim.

Statute of Limitations

1. 2-3 years: In some jurisdictions, like the US, the statute of limitations for claiming a refund of excess sales tax is 2-3 years.
2. 4-5 years: In other jurisdictions, like Canada, the statute of limitations is 4-5 years.
3. No statute of limitations: Some jurisdictions, like Australia, do not have a statute of limitations for claiming refunds of excess sales tax.

Interest and Penalties

1. Interest on refunds: Some jurisdictions, like the US, pay interest on refunds of excess sales tax.
2. Penalties for late payment: Many jurisdictions impose penalties for late payment of sales tax, which can be waived if the excess tax is refunded promptly.

Record-Keeping Requirements

1. 3-5 years: Many jurisdictions require businesses to keep records of sales tax transactions for 3-5 years.
2. 6-7 years: Some jurisdictions, like the EU, require businesses to keep records for 6-7 years.

It’s essential to consult with the relevant tax authority or a tax professional to determine the specific post-collection timeframes and requirements applicable to your business.