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Tax Department Clears Rs 7,000 Crore GST Refunds of Exporters

"More than Rs 7,000 crore of IGST/ ITC refunds sanctioned till now during the ongoing Special Refund Fortnight," the Central Board of Indirect Taxes and Customs (CBIC) said in a tweet.

PTI

Updated:June 9, 2018, 3:18 PM IST
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Tax Department Clears Rs 7,000 Crore GST Refunds of Exporters
Image for representation (Photo: Reuters)
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New Delhi: Over Rs 7,000 crore or half of the pending GST refunds of exporters has been cleared in the first nine days of the ongoing special refund fortnight.

"More than Rs 7,000 crore of IGST/ ITC refunds sanctioned till now during the ongoing Special Refund Fortnight," the Central Board of Indirect Taxes and Customs (CBIC) said in a tweet on Friday night.

It asked exporters and traders to visit their jurisdictional GST office or Customs House/Port and settle pending claims during the Special Refund Fortnight from May 31 to June 14, 2018.

About Rs 14,000 crore of refunds of exporters were stuck due to various mismatches and CBIC has organised the special fortnight to fast track clearances.

The CBIC has also allowed clearance of GST refunds based on PAN of exporters if such refunds are held up due to mismatch in GSTIN mentioned in shipping bill and return forms.
(Get detailed and live results of each and every seat of the state Assemblies in Madhya Pradesh, Rajasthan, Telangana, Chhattisgarh and Mizoram to know which candidate/party is leading or trailing and to know who has won and who has lost and by what margin. Our one-of-its-kind Election Analytics Centre lets you put on the psephologist's hat. Know interesting facts and trivia about the elections. Elections = News18)
| Edited by: Huma Tabassum
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