CBEC decides to liquidate all pending claims of Exports Refund

CBEC decides to liquidate all pending claims of Exports Refund: CBEC has decided to observe a special drive "IGST/ITC Exports Refund Fortnight" from 15 March to 29th March to liquidate all the pending export refund claims. This new has been confirmed byCBECChairperson Ms. Vanaja Sarna. She also added thatthere were instances of exporters committing errors while filing refund claims and to help them, the department has started giving out refunds partially with manual intervention. She further added thatto solve this issue completely we have instituted a special fortnight campaign, starting from March 15 which will go on till March 29. There are going to be camps all over the country so that all exporters can come with refund problem and they will be explained what their problem is, they will be asked to rectify it and then the process will completed and refund will be given. She was hopeful that by 31st of March all pending refunds as far as exporters are concerned will be sorted out. The issue of delay in GST refund was major concern among the exporters as it was blocking there working capital. On the other hand revenue department argued that discrepancies in forms submitted by exporters with Custom department or GSTN were the reason of this delay. TheGSTCouncil in its 26th meeting has decided to implement e-wallet scheme by 1st October 2018 so as to speed up processing of refunds to exporters. Under the e-wallet mechanism, a notional credit would be transferred to the exporters account based on their past record and the credit can be used to pay taxes on input. [You May Also Refer:26th Meeting of the GST Council extends tax exemptions for exporters for six months] All exporters are hereby requested to avail the benefit of this scheme. For More updates of the 26th GSTN meeting please refer:

• Recommendations regarding E-way Bill made during meeting of the GST Council
• Recommendations regarding Data Analytics made by the GST Council
• Recommendations made during the 26th meeting of the GST Council
• 26th Meeting of the GST Council extends tax exemptions for exporters for six months
• 26th GST Council meeting updates : Key takeaways

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