Government Finally Approves 127 Billion GST Refund Claim For Exporters

At last, the day has come and the government has sanctioned the remaining amount of GST refunds which is worth 127 billion that is around 80 percent of the eligible claims of exporters, as confirmed by the official.

Central Board of Excise and Customs (CBEC) had come up to help all the exporters in filing them refund claims forms and working on error-free claims. For this, the CBEC organized refund facilitation camps in the field offices from 15th March to 31 March.

A senior official stated that “IGST refund claims worth Rs 86 billion till January 31 was lying with the CBEC. Of this, Rs 77 billion worth claims have been sanctioned so far.”

By now only 28 billing refund claim is pending which is soon to be cleared as mentioned by the official. While an amount of 25 billion has already been credited to the exporters who had earlier paid the State GST (SGST).

The refund for exporters was initially started last year on the paid integrated GST (IGST) and the refund claims which were based on shipping bill filled in Table 6A. While on the same table, anyone who had made zero-rated supplies or wants to claim input credit will have to fill the Form RFD-01A.

Read Also: How to File GST Refund Claims Manually? Step by Step Guide

It is known that from the beginning of the refund claim procedure, there was a delay in the final credit of refunds but now it seems the government has taken the issue seriously. An official stated that “The refund facilitation camp has helped in exporters in revising their claim forms.”