India: CBIC to organise third edition of GST refund fortnight in latter half of Jul 18

Centennial Asia > The Asian Pulse > Daily News > India: CBIC to organise third edition of GST refund fortnight in latter half of Jul 18
  • July 16, 2018
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  • Category: Daily News
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  • The CBIC will organise the third tranche of its special fortnight drive from 16 – 30 Jul 18 to fast track clearance of pending GST refunds of exporters.
  • In the previous two fortnights, the Central Board of Indirect Taxes and Customs (CBIC) had cleared INR54bn and INR76bn refunds stuck with regard to Integrated GST (IGST) paid and input tax credit (ITC) claims.
  • In case of IGST refunds for goods exported out of India, the percentage of amount of refund claims disposed by CBIC is already more than 90%, a finance ministry statement said.
  • The ministry asked the exporters and export organisations to get their pending refund claims processed during this window. In Jun 18, the government had said that it had till then cleared pending GST refunds to the tune of INR380bn.

External Link: https://economictimes.indiatimes.com/news/economy/policy/cbic-to-organise-third-edition-of-gst-refund-fortnight-from-july-16-30/articleshow/65013447.cms

16-Jul-2018