Over Rs 7,000 crore or half of the pending GST refunds of exporters has been cleared in the first nine days of the ongoing special refund fortnight. “More than Rs 7,000 crore of IGST/ ITC refunds sanctioned till now during the ongoing Special Refund Fortnight,” the official twitter handle of the Central Board of Indirect Taxes and Customs (CBIC) said in a tweet on Friday night.
It asked exporters and traders to visit their jurisdictional GST office or Customs House/Port and settle pending claims during the Special Refund Fortnight from May 31 to June 14, 2018.
Refunds of GST have been a concern for both the Government and Trade for the past several months. Till now, the Government has sanctioned more than Rs 30,000 crore as GST Refund. This includes an amount of Rs 16,000 crore of IGST and Rs 14,000 crore of ITC. The figures of ITC include sanction by both the Central and State Governments.
Government has started a second “Special drive Refund Fortnight” from 31st May 2018 to 14th June 2018. This time the “Special Drive Refund Fortnight” facilitates all types of Refund claims in which Customs, Central and State GST officers will strive to clear all GST refund.
About Rs 14,000 crore of refunds of exporters were stuck due to various mismatches and CBIC has organised the special fortnight to fast track clearances.
The CBIC has also allowed clearance of GST refunds based on PAN of exporters if such refunds are held up due to mismatch in GSTIN mentioned in shipping bill and return forms.
During the special Refund drive from 31.05.18 to 14.06.18, ICD Mulund has sanctioned IGST refund amounting to Rs. 5.07 crores pertaining to 212 Shipping bills till 10.06.18.
Chennai Customs, Sea cargo on IGST refund drive on Sunday. An amount of RS 53.93 crore was sanctioned on Saturday by the zone covering 943 Shipping Bills.
Delhi Air Cargo officers were even working on Sunday during IGST refund fortnight.
The Customs Gujarat zone sanctioned IGST Refund of Rs. 186.47 Crores in 3800 Shipping Bills have been sanctioned in a single day i.e. on 10.06.2018 as a part of Special Drive Fortnight.
