According to the latest figures from the Government on the claims filed by exporters for refunds under GST, grossly amounts to over Rs 7,000 crores. GST Council has taken quick measures and cleared half of the pending GST refund of exporters within first nine days on account of the “Special Refund Fortnight Programme”.
GST Council declared that more than Rs.70 Billion of refunds under IGST/ITC have been processed and approved during the “Special Refund Fortnight” reported by the Central Board of Indirect Taxes and Customs (CBIC).
Here’s the date for settling claims!!
Traders and exporters were asked to visit the GST office or Customs House to finalize their pending claims during the “Special Refund Fortnight” being conducted from May 31st to June 14th, 2018.
Its estimated that about Rs 140 Billion of refunds of exporters, have stopped processing or held due to the high volume of GSTIN mismatches that have come into light during the Special fortnight fast-track clearances held by CBIC.
The CBIC issued orders to process the clearance of GST refunds on the basis of PAN of exporters for the refund process that have been on hold because of the GSTIN mismatch in the shipping invoice and return forms.
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