In a bid to expedite GST refund clearances to exporters, the Central Board of Excise and Customs (CBEC) today held a meeting with leading industry and export bodies to discuss solutions for clearing the pending dues.
In a meeting that lasted over an hour, CBEC Member P K Das and other officials asked export associations, including EEPC, to approach the CBEC camps in field offices, which the indirect tax body has organised to facilitate the refund process.
The CBEC field formations have launched 'GST refund fortnight' beginning March 15 in which tax officers are guiding exporters with their stuck refund.
The Centre and states have sanctioned more than Rs 10,000 crore as GST refunds to exporters. However, as much as 70 per cent of total refunds to exporters is still stuck even after eight months of GST roll out.
Goods and Services Tax (GST) was rolled out from July 1, 2017.
Refunds to exporters have been delayed for over eight months now, with exporters complaining that delay in GST refunds has blocked their working capital.
The revenue department, on the other hand, has argued that there are discrepancies in forms submitted by exporters with the customs department and those with the GST Network (GSTN).
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
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