Under GST refunds

Under GST refunds Govt. clears 38,062 cr. Rupees

The government has cleared pending amount under GST refunds around 38,062 crore to exporters, the Central Board of Indirect Taxes and Customs said on last Wednesday.

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

During the CBIC’s refund of last 15 Days, 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.

Besides, RFD-01A claims worth Rs 1,548 crore were sanctioned by the centre and Rs 2,290 crore by the states during the last 15 days. This is out of the Rs 9,816 crore RFD-01A refund claims received by the centre as on April 30, 2018.

Thus, the total IGST and RFD-01A refund claims sanctioned by the government during the refund fortnight was Rs 9,925 crore.

The government had last month said about Rs 14,000 crore of refunds of exporters were stuck due to various mismatches. The CBIC had organised the special refund drive to fast track clearances.

The amount of RFD-01A refund claims disposed as on June 16, 2018, by the centre stood at Rs 10,824 crore and by the states at Rs 7,287 crore. Thus, the total amount of RFD-01A claims disposed off stands at Rs 18,111 crore so far, the CBIC added. JD CS ANS

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