`22,000 cr GST re­funds pend­ing with govt: FIEO

Financial Chronicle - - PLAN, POLICY -

As much as Rs 22,000 crore GST re­fund is pend­ing with the govern­ment, cre­at­ing liq­uid­ity prob­lem for ex­porters and im­pact­ing over­seas ship­ments, FIEO said on Wed­nes­day.

Fed­er­a­tion of In­dian Ex­port Or­gan­i­sa­tions (FIEO) pres­i­dent Ganesh Gupta said the de­lay in re­fund is mainly im­pact­ing small ex­porters who pro­vide jobs in labour-in­ten­sive sec­tors.

“Re­funds of about Rs 7,000 crore are pend­ing on ac­count of IGST and about Rs 15,000 crore ITC as of Septem­ber 30. This is im­pact­ing small ex­porters,” Gupta told re­porters here.

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