NewsBanking & FinanceFinanceGSTInFocus

GST Refunds of Rs 21,142 Cr Sanctioned as on Mid June 2018

Sharing is caring!

The government said integrated GST refunds amounting to Rs 21,142 crore have been sanctioned as on June 16 for exporters.

“IGST refunds amounting to Rs 21,142 crore and RFD-01A refunds totalling Rs 16,920 crore has been sanctioned by CBIC (Central Board of Indirect Taxes and Customs) and state governments as on June 16, 2018,” Minister of State of Commerce and Industry C R Chaudhary said in a written reply to the Rajya Sabha.

He said that in order to sort out the problems being faced by the exporters for refund claims of GST two ?Special Drive Refund Fortnight’ were organised in March and June.

Government has also taken other measures to expedite the refund of GST to exporter which include certain common errors hindering disbursal of Integrated Goods and Services Tax (IGST) refund and solutions thereof, permitting manual intervention for corrections in figures by customs officers.

SMEStreet Desk

SMEStreet is fast growing platform dedicated to entrepreneurs from small and medium sized businesses (SMEs). Committed to facilitate Knowledge & Networking for Business Growth, SMEStreet offers value added content which shows the actual voice of Indian MSMEs.

Related Articles

Leave a Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Back to top button
%d bloggers like this: