Exporters refunded Rs 38,000 cr in last 2 Special drive : Commerce Ministry

  • 23-Jul-2018
  • Exporters refunded Rs 38,000 cr in last 2 Special drive : Commerce Ministry

Various categories of refunds for Exporters from both  Central and State Governments totaling Rs 38,000 crores were sanctioned  during two Special Drive Refund Fortnight organized during March and May this year, Minister of State for Commerce C R Choudhry informed the Rajya Sabha on July 19th

In a written reply to the Rajya Sabha, the Minister said in order to sort out the problems being faced by the exporters for refund claims of GST two ‘Special Drive Refund Fortnight’ were organized from 15.3.2018 to 29.3.2018 and from 31.5.2018 to 16.6.2018.

As a result, most of the claims filed till 30.04.2018 have been sanctioned. IGST refunds amounting to Rs. 21,142 crore and RFD-01A refunds totalling Rs 16,920 crore has been sanctioned by CBIC and State Governments as on 16.06.2018.

Government has also taken other measures to expedite the refund of GST to exporters which include certain common errors hindering disbursal of Integrated Goods and Services Tax (IGST) refund and solutions thereof, permitting manual intervention for corrections in figures by customs officers.

Moving a step ahead for the ease of exporters, in case of refund of IGST where there is a mis-match of invoice details as filed in the Shipping Bill and GST Returns cases, an alternate mechanism with officer’s interface has been developed and circulated.

The Central Board of Indirect Taxes and Customs(CBIC) has directed Custom Houses to open a dedicated cell and e-mail address for the purpose of facilitating the pending IGST refund cases, in order to ensure smooth operation of the prescribed procedure and clearing the backlog of refunds of IGST paid on export of goods.

The Custom Houses have been directed to give wide publicity to this step.

Source:- Dailyshippingtimes.com

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