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A piece of very exciting news coming for all the GST exporters in the country. The government has announced a single-window facility for processing GST refunds to the exporters. With the help of this new GST refund system, the government will issue both the Central and State GST refunds parallelly to exporters via a single […]
As per an official, Sooner there will be a single authority for sanctioning and processing of the GST refunds. The Finance Minister has looked into the matter and is thinking to revamp the GST refund process. Currently, the process has a twin refund sanctioning authority of the central and state tax officers. But with the […]
The Finance Ministry has still not made a decision in the 29th GST council meeting on the rules and conditions to give a refund of GST on goods purchased by foreigners to take them out of India.
Foreign tourist will soon feel relief from GST as they will be able to claim GST refund before leaving an airport.
In order to ease the GST impact on the exports industry of India, the government has today sanctioned pending GST refunds of over Rs 30,000 crore to those exporters who are waiting to get input credit or claim back the IGST paid by them on exports.
A report released by Federation of Indian Export Organisations (FIEO) reveals that the government owes more than Rs 20,000 crore in GST refunds, of which half the amount is pending as input tax credit.
GST council and tax department are organizing a second phase of ‘Special Refund Fortnight’ for the taxpayers which will enable them to draw their refunds at a speedy pace. The agenda is to clear all the pending applications of GST refunds within a stipulated time period.
It is very weird to find that GST refund complaints are not eligible due to the internal misrepresentation. The exporters of garment industry have falsely said that they are not getting the GST refunds, while in fact, they didn’t even apply for the same.
To make the GST refund procedure fast, The Engineering Export Promotion Council (EEPC) has welcomed the foreign trade policy which analyses in terms of the mid-term review. The EEPC has named the policy as faster clearance of the Goods and Services Tax (GST) refunds.
