New Delhi:- Even after 9 months of GST implementation, SEZ and Export Oriented Units still remain in trouble. The problem of business refund, GST with GST on Ground Level is facing problems due to shortcomings in the law. The government is also now in the process of resolving the problem of businessmen. In this regard, a meeting has also been held between senior officials of the FM between SEZ and EOU on Wednesday.
Meetings of SEZ Units and GST Senior Officials
Due to the growing problems of SEZ units, the meeting of the Export Promotion Council for EOU (Export Oriented Unit) and SEZ (Special Economic Zone) officials and senior GST officials meeting. He kept the problems related to GST in the meeting where the officials assured the help.
Interruption in getting GST refund:-
Export Promotion Council for EOU and SZE Chairman Vinay Sharma told that more than 60% GST refunds are still stuck. Because of this, they are having the problem of working capital most. The government has made a refund of about Rs 17,616 crore to exporters by March 2018. Exports are more than the IGST refund, with the State GST refund because there are no refunds stuck there.
GST refund claims do not include SEZ
Supplying the SEZ unit comes in zero rated. That is, the supplier supplying the SEZ unit can supply through Letter of Undertaking (LUT) but for that, it does not have to be paid to IGST. If he does not supply through LUT and IGST, then he can get his refund. Most suppliers charge GST from the invoice from the SEZ unit in place of LUT or Refund Process.
NSDL, business hassle due to lack of GST portal link
All the SZE units have to submit their data to the NSDL portal right now and after that this information has to be submitted separately to GST Portal separately. The SEZ Export Association should link the NSDL and GST portals so that the time and expenditure of the business people are reduced because the accounting costs have increased due to their filing of returns twice.