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Business Economy 17 Mar 2018 Centre, states sanct ...

Centre, states sanction Rs 10,000 cr refunds due to exporters: Finance Ministry

PTI
Published Mar 17, 2018, 10:33 am IST
Updated Mar 17, 2018, 10:33 am IST
GST Council, in its last meeting on March 10, has directed all States tax authorities to proactively clear refund claims.
The issue of refunds to exporters has been delayed for over eight months now.
 The issue of refunds to exporters has been delayed for over eight months now.

New Delhi: The Centre and states have sanctioned more than Rs 10,000 crore as GST refunds to exporters, the finance ministry said on Friday.

In a statement the ministry said many of the errors plaguing the claims for refunds are on account of inadequate familiarisation of the exporters with the GST laws and data entry errors in the various GSTRs / forms.

 

"In order to overcome the causes of the delay in sanctioning of refunds, Government has taken various steps, which includes amendments in the rules, changes in the business procedures of common portal and customs automated system to address the systemic issues," the statement said.

The issue of refunds to exporters has been delayed for over eight months now, with exporters complaining that delay in GST refunds has blocked their working capital. The revenue department, on the other hand, has argued that there are discrepancies in forms submitted by exporters with the customs department and those with the GST Network (GSTN).

"So far more than Rs 10, 000 crore has already been sanctioned by CBEC and states. "A standard operating procedure applicable to both Central and State GST has been put in place by virtue of various Circulars and clarifications issued with regard to processing of ITC (input tax credit) refund," the statement said.

After the GST council meet last week, Central Board of Excise and Customs Chairperson Vanaja Sarna had said that the department has already paid refunds worth Rs 5,000 crore to exporters.

The statement further said that the "Government wants to assure the exporting community that it is keen to see that all their eligible refund claims are considered and sanctioned at the earliest".

The CBEC has taken an initiative to observe a special drive refund sanction fortnight from March 15 to 29, on an all India scale for which additional staff and infrastructure has been mobilised.

"GST Council, in its last meeting on March 10, has directed all States tax authorities to proactively clear refund claims. "Exporting community is requested to take benefit of this fortnight and wholeheartedly come forward to get their errors rectified to enable sanction of refunds," the statement added. 

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Location: India, Delhi, New Delhi


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