The CBIC will organize 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 the number of refund claims disposed of by CBIC is already more than 90 percent, 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 process, in each Commissionerate,” it added. 

The ministry asked the exporters and export organizations 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. 

 

Source: Economic Times

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