CBIC Made Some Amendments in Standard Operating Procedure for IGST Verification

The CBIC had issued a Standard Operating Procedure (SOP) on January 23, 2020, and it needs to be followed by such exporters, and on May 20, 2020 CBIC made some amendments in it regarding verification of IGST refunds and other related aspects.

The Standard Operating Procedure (SOP) by CBIC was released to confirm the existence of exporters and mitigate the risk of fraudulent refund on the export of goods through the Integrated Goods and Services Tax refunds paid through utilizing the ITC A complete guide for understanding the basics of input tax credit and it calculation with detailed examples under GST (Goods and Services Tax) India. Read More received on the basis of fake invoices; in these type of cases refund scrolls have been withheld until after verification, and even further.

The reason behind the amendments is the received complaints from exporters against the delay in the release of a 10ST refund in which there are some cases of delay beyond 6 months. For the purpose of resolving the delay factors in finalizing the report, CBIC has done some amendments in the SOP.

CBIC also advised the Zonal Principal Chief Commissioners or chief commissioners of Central Goods and Service Tax Get the brief introduction of SGST, IGST and CGST. We have mentioned their full forms, meanings and adjustments of input tax credit under GST in India and CX zones to observe the status and also instructed them to send all the pending verification reports DGRM by June 5th, 2020. They are also instructed to form a process to ensure that in future such verifications can be completed and DGRM receive the report within 3 weeks after receiving the verification request from DGARM