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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.

1 November 2017, the Delhi High Court released a notice to the Centre in consideration of a Plea by Honda Siel Power Products Limited, questioning the constitutional validity of setting down a higher rate of GST on kerosene and petrol engines as compared to diesel engines.

Due to the ongoing pollution certifications being provided by the service centres. In lieu of this service, GST tax is being recovered from the public. But the question is arising that who will pay the GST for these kinds of services.

The demand for Tax professionals is increasing day-by-day not only in India but also in foreign countries, as VAT is going to be implemented in UAE from 1st January 2018. However, tax Professionals in India are complaining about the complex taxation system of GST but they themselves becoming an expert in handling the complexities.

As expected, India’s first union budget after GST rollout and the government’s last budget in this session is about to be presented on February 1 by the Finance Minister Arun Jaitley.

Starting from the implementation of GST, it has been a round of discussion for the political parties to solve out any discrepancies arising out of compliance obligations of GST.

For claiming refunds under GST, recently the government has observed that nearly 10,000 applications have been filed by exporters till November.

Nearly Rs 6,500 crores as refunds have been claimed by the exporters within four months of GST implementation. The government said that now exporters can file claims in the proper manner along with matching shipping bills to get refunds earlier.