GST: Hyderabad tops in refund procedure

Deccan Chronicle.

Business, In Other News

The Hyderabad zone settled refunds worth Rs 452 crore against applications for Rs 557 crore.

During the first year of GST implementation, the four GST commissionerates in the state carried out refund fortnights from March 15 and again from May 31.

Hyderabad: The Hyderabad zone of GST has recorded 88 per cent completion of refund process during the special fortnight drive concluded in June, closely followed by Mumbai with 87 per cent. The national average was 84 per cent.

The Hyderabad zone settled refunds worth Rs 452 crore against applications for Rs 557 crore, sources said.

The Central Board of Indirect Taxes and Customs (CBIC) had organised two refunds fortnights across the country for clearance of refund claims filed by tax payers.  

During the first year of GST implementation, the four GST commissionerates in the state carried out refund fortnights from March 15 and again from May 31. The combined average of settlement of refunds was 81.14 per cent. 

“As on March 31, 2018, the Hyderabad zone received 378 RFD-01A applications involving Rs 150 crore. Of these, 295 refunds were sanctioned involving tax of Rs 133 crore. This shows that 88 per cent of the claims were refunded,” said a central GST official. Out of the refunds, 142 applications were shared with nodal officer of State Tax Authority (STA) for making payment of sanctioned refund amount of SGST/UGST involving Rs 26 crore. 

“As on June 22, the Hyderabad zone received 893 RFD-01A applications involving total tax of Rs 407 crore, of which 722 refunds have been sanctioned involving Rs 319 crore. A total of 440 applications have been shared with nodal officer of STA for refunds of Rs 48 crore of SGST/UGST.”

A top official of the Hyderabad Central GST Zone was consistently topping the country with regard to disposal of refund claims, a fact which was commended by the CBIC.  

H5

Read more...