`82,775cr GST re­funds to ex­porters done; `5,400cr is pend­ing

Financial Chronicle - - PLAN, POLICY - FC BUREAU

The goods and ser­vices tax (GST) re­fund of Rs 82,775 crore to ex­porters has been cleared as on Oc­to­ber 31, which is 93.8 per cent of the to­tal such claims with tax au­thor­i­ties, the fi­nance min­istry said on Thurs­day.

In a state­ment, the min­istry said Rs 5,400 crore worth GST re­fund is still pend­ing with the govern­ment and that is be­ing “ex­pe­di­tiously pro­cessed”.

“As on Oc­to­ber 31, 2018, to­tal GST re­funds to the tune of Rs 82,775 crore have been dis­posed by the cen­tral board of in­di­rect taxes and cus­toms (CBIC) and state au­thor­i­ties out of the to­tal re­fund claims of Rs 88,175 crore re­ceived so far,” the min­istry said.

The dis­posal rate of GST re­funds is 93.8 per cent as on Oc­to­ber 31, it added.

Giv­ing the re­funds’ break-up, the min­istry fur­ther said that Rs 42,935 crore of IGST re­funds have been dis­posed of as on Oc­to­ber 31, which is 93.27 per cent of the to­tal such claims. As much as Rs 3,096 crore worth of IGST re­fund claims are held up on ac­count of “var­i­ous de­fi­cien­cies”, which have been com­mu­ni­cated to ex­porters for re­me­dial ac­tion.

With re­gard to re­fund of in­put tax credit claims, the min­istry said of the to­tal claims of Rs 42,145 crore, the pen­dency as on Oc­to­ber 31 stood at Rs 2,305 crore. “Pro­vi­sional/ fi­nal or­der has been is­sued in case of re­funds worth Rs 34,602 crore. In claims amount­ing to Rs 5,239 crore, de­fi­ciency memos have been is­sued by re­spec­tive GST au­thor­i­ties,” the state­ment said. The min­istry said there are con­cerns that there is a grow­ing pen­dency of GST re­funds and sought to as­sure the ex­porters that there is no let up in the sanc­tion of GST re­funds.

“The pend­ing GST re­fund claims amount­ing to Rs 5,400 crore are be­ing pro­cessed so as to pro­vide re­lief to el­i­gi­ble ex­porters. Re­fund claims with­out any de­fi­ciency are be­ing cleared ex­pe­di­tiously,” it said.

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