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Rs 50,000 crore of exporters' GST refund stuck

Rs 50,000 crore of exporters' GST refund stuck

Rs 50,000 crore of exporters' GST refund stuck

At least Rs 50,000 crore worth of goods and services tax (GST) refunds of exporters for four months are stuck, impacting working capital and outbound shipments.  Only about Rs 350 crore of refunds on account of integrated GST (IGST) have been released by the government for July, against Rs 750 crore claimed by exporters. Besides, the input tax credits, which form a chunk of GST refunds, are yet to be released. “Refunds are going on.

There was a delay on account of unavailability of forms pertaining to refunds on the GST Network. Then there was no facility for ...

Source:- Business-standard.com

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