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‘Circular No. 22/2020-Customs’ has been released by Central Board of Indirect Taxes & Customs (CBIC) on 21st April 2020 Yesterday. The circular has been released to inform Exporters about the decision taken by authorities to extend the facility of SB005 error correction in the Customs EDI system for Shipping Bills with a date up to […]
The startups in India have written a letter to the office of the Finance Minister of India, Mrs. Nirmamla Sitharaman, asking for liquidity support because of the lockdown announced by the government after the outbreak of COVID-19. The letter stated that more than half of the startups will go bankrupt because of the lockdown if […]
Refund application goes online and the authority for the payment of these refund goes in a single hand. Now the taxpayers shall file refund application online/ electronically in form RFD-01 whereas the disbursement of GST refund will be done through the Public Financial Management System (PFMS) by the certified bank of Central Board of Indirect […]
Good news has arrived for all the taxpayers registered under the goods and services tax regime as the latest system of GSTN portal will be processing the GST refunds faster than the earlier version. Now the communication will be totally online between the tax officers and the taxpayers as the latest “Online Refund Processing and […]
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.
