Govt. Kick Starts Special GST Refund Drive for Exporters

GST Implementation has made the entire country go rock and roll. Entrepreneurs cried and shouted against it, policymakers and farsighted experts found this move very impressive. But, whatever conclusion we may reach, the reality remains that exporters and entrepreneurs are severally struggling. But, ultimately, the government has decided to come forward in the rescue of exporters especially those who are struggling with GST returns delay.

Commerce Ministry has began a second 'Special drive Refund Fortnight' to clear refund claims under Goods and Services Tax (GST), a move that will help exporters, among others, an official release from the government department said.

Government is starting a second 'Special drive Refund Fortnight' from 31st May 2018 to 14th June 2018, said an official release.

This time the “Special Drive Refund Fortnight” would facilitate all types of Refund claims in which Customs, Central and State GST officers will strive to clear all GST refund applications received on or before 30.04.2018, it added.

This will include refunds of IGST paid on exports, refunds of unutilized ITC and all other GST refunds submitted in FORM GST RFD-01A, the release said.

Refund claims to the tune of Rs 14,000 crore (Rs.7,000 crore on the IGST side and Rs 7,000 crore on account of ITC) are pending with the Government as on date, as against the figure of Rs 20,000 crore projected by exporters’ body FIEO in the press reports.

The refund application in FORM GST RFD-01A will not be processed unless a copy of the application, along with all supporting documents, is submitted by an applicant to the jurisdictional tax office.