Govt clears ₹38,062 crore GST refunds

Tax RefundThe government has cleared pending GST refunds to the tune of ₹38,062 crore to exporters so far, the Central Board of Indirect Taxes and Customs said on Wednesday.

“In all, ₹21,142 crore (IGST refunds), ₹9,923 crore (RFD-01A refund by CBIC) and ₹6,997 crore (RFD-01A refund by states), all totalling ₹38,062 crore has been sanctioned till June 16, 2018,” the CBIC said in a statement.

During the CBIC’s refund fortnight, pending refunds of integrated GST (IGST) of exporters based on shipping bill were cleared. Also, those businesses making zero rated supplies or those wanting to claim input credit, were given refunds.


Source: The Hindu


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