Centre clears GST refunds worth Rs 91,149 crore.
Summary: New Delhi [India], Dec 3 (ANI): The Centre on Monday said Goods and Services Tax (GST) refunds to the tune of Rs 91,149 crores have been disposed by the Central Board of Indirect Taxes and Customs (CBIC) and state authorities out of the total refund claims of Rs 97,202 crore received so far, thus implying a disposal rate of 93.77 per cent.
New Delhi [India], Dec 3 ( ANI ): The Centre on Monday said Goods and Services Tax (GST) refunds to the tune of Rs 91,149 crores have been disposed by the Central Board of Indirect Taxes and Customs (CBIC) and state authorities out of the total refund claims of Rs 97,202 crore received so far, thus implying a disposal rate of 93.77 per cent.
The pending GST refund claims amounting to Rs 6,053 crore are being expeditiously processed so as to provide relief to eligible claimants, while refund claims without any deficiency are being cleared expeditiously, the Ministry of Finance said in an official statement.
In case of Integrated GST (IGST) refunds, about 95 per cent (Rs 48,455 crore) of the total IGST refund claims (Rs. 50,928 crore) transmitted to Customs from the GST Network (GSTN) as on November 28 have been disposed, and remaining claims amounting to Rs. 2,473 crore are held up on account of various deficiencies which have been communicated to exporters for remedial action.
In the case of RFD-01A (ITC Refunds plus other refunds) claims, out of the total refund claims of Rs. 46,274 crore received in the jurisdictional tax offices, the pendency as on December 3 is Rs. 902 crore with Centre and Rs 2,678 crore with states. Provisional/final order has been issued in case of refunds amounting to Rs. 37,406 crore.
In claims amounting to Rs. 5,288 crore, deficiency memos have been issued by respective GST authorities and action will be taken after receipt of replies from the claimants, the Finance Ministry said.
The Centre said efforts are being made continuously to clear all the pending refund claims, wherever requisite information is provided and found eligible. "Co-operation of the exporter community is solicited to ensure that they respond to the deficiency memos and errors communicated by Centre and State GST as well as Customs Authorities and also exercise due diligence while filing GSTR 1 and GSTR 3B returns as well as Shipping Bills," read the statement. ( ANI )
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|Publication:||Asian News International|
|Date:||Dec 3, 2018|
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