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  1. CBIC to organise third edition of GST refund fortnight from July 16-30 – All you need to know

CBIC to organise third edition of GST refund fortnight from July 16-30 – All you need to know

The CBIC will organise the third tranche of its special fortnight drive from July 16 to 30 to fast track clearance of pending GST refunds of exporters.

By: | Published: July 16, 2018 9:48 PM
GST refund, CBIC, IGST, GST refund third edition, gst news, ITC In case of IGST refunds for goods exported out of India, the percentage of amount of refund claims disposed by CBIC is already more than 90 per cent, a finance ministry statement said.

The CBIC will organise the third tranche of its special fortnight drive from July 16 to 30 to fast track clearance of pending GST refunds of exporters. In the previous two fortnights, the Central Board of Indirect Taxes and Customs (CBIC) had cleared Rs 5,401 crore and Rs 7,635 crore refunds stuck with regard to Integrated GST (IGST) paid and input tax credit (ITC) claims. In case of IGST refunds for goods exported out of India, the percentage of amount of refund claims disposed by CBIC is already more than 90 per cent, a finance ministry statement said.

“In order to liquidate pendency further, and to handhold/ guide the trade for applying for the refund claims in a proper manner, it has been decided to observe another refund fortnight from July 16 to 30, 2018. Dedicated refund cells and helpdesks will be provided for exporters to get their refund claims processed, in each Commissionerate,” it added.

The ministry asked the exporters and export organisations to take benefit of this opportunity to get their pending refund claims processed. Last month, the government had said that it had till then cleared pending GST refunds to the tune of Rs 38,062 crore.

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