CBIC Extends GST Refund

CBIC Extends GST Refund Drive Till 16th June

The government had last month announced the fortnight-long drive from May 31 to June 14.

The Central Board of Indirect Taxes and Customs CBIC extends GST refund fortnight for fast track clearance of pending dues to exporters by two days till 16th June.

The central and state tax officials have already cleared refunds worth over Rs 7,500 crore since May 31, when the special drive to clear exporters refund was launched.

“In view of overwhelming response from exporters and pending claims, the period of refund fortnight is being extended by two more days i.e up to June 16, 2018,” a finance ministry statement said.

With total Rs 14,000 crore of exporters refunds stuck due to various mismatches gitches, the CBIC had organised the second phase of the special fortnight to fast track clearances.

During the first phase, during 15th March To 29th March, an amount of Rs 5,350 crore was sanctioned.

The ministry further said, in case of short payment of integrated GST (IGST), small exporters whose aggregate IGST refund amount for the period July 2017 to March 2018 is up to Rs 10 lakhs are required to submit self-certified copies of proof of payment of IGST to the concerned customs office at the port of export

Others are required to submit a certificate from a Chartered Accountant including the proof of payment.

All GST refund claimants, whose claims are still pending, are being encouraged to approach their jurisdictional tax authority for disposal of their refund claims submitted on or before 30th April, the statement said.

“In case of any problem, exporters are advised to approach the Commissioner of Customs /Jurisdictional Tax Authorities. The government is committed to clear all the remaining refund claims filed up to 30.04.2018 are still pending,” it added.

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