A year after the new tax regime rolled in, exporters and the government continue a delicate dance over the release of Goods and Services Tax (GST) refunds for exports.
The export community has repeatedly blamed the slow refund process as the prime reason for them facing a significant liquidity crunch, which has led to the cancellation of export orders in some labour-intensive sectors such as engineering and apparel. On the other hand, the tax authorities have countered by pointing out the new process will take some time to stabilise as many traders have not filed claims ...
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