GST REFUNDS
The Goods and Services Tax Act 2017 came into force with
effect from 1.7.2017 in India.
The exporters are waiting for
IGST refunds on Exports and other GSTIN / UIN taxpayers are awaiting for GST
refunds in respect of Input Tax Credit.
Now the Central Board of
Excise and Customs (CBEC) and Commercial Taxes Departments of States and Union
Territories were observing Refund Fortnight for 15 days from 15.3.2018 to
29.3.2018.
During this period the IGST
refunds on export of goods will be sanctioned quickly and other CGST and SGST
refunds will be sanctioned quickly by Central Government and State Governments
and Union Territories.
Please click the link given
below to view the circular issued by Central Board of Excise and Customs and
follow the same and get GST refunds as early as possible.
36/2018 - Processing of refund applications for UIN entities:
37/2018 - Clarifications on exports related refund issue:
http://www.cbec.gov.in/resources//htdocs-cbec/gst/circularno-37-cgst.pdf
The Press Release dated 16.3.2018 is given below for ready reference:
The Press Release dated 16.3.2018 is given below for ready reference:
PRESS RELEASE
16th March, 2018
It
has been noticed
that at regular intervals, unverified estimates of pending GST refunds on account of exports are published in the print media or put forward by various
trade bodies. These figures are highly speculative and mostly inaccurate.
It is a fact that
while a number of exporters have not been able to get the export refunds so
far
others have been granted refunds. In order to overcome
the causes of the delay in sanctioning of refunds, Government
has taken various steps, which includes amendments
in the rules, changes in the business procedures of common portal and
customs automated system to address the systemic issues. Many of the
errors plaguing the claims for refunds are on account of inadequate familiarisation of the exporters with the GST laws and data entry errors in the various
GSTRs / forms.
Government
has
carried out outreach
programmes by issuing guidance circulars, advisories, FAQs, advertisements
etc and also provided an alternative
procedure involving manual interface where the errors could not be corrected online.
The efforts are beginning to show positive results.
So far more than Rs 10, 000 Crore has already
been sanctioned by CBEC and States.
A standard operating procedure applicable to both Central and State GST has
been put in place by virtue of various Circulars and clarifications
issued with regard to processing of ITC refund.
GST Council, in its last meeting on 10th March 2018, has directed all States tax authorities to proactively clear refund claims. Exporting community
is requested to
take benefit of this fortnight and wholeheartedly come forward to get their errors rectified to enable
sanction of refunds.
CBEC has taken
an
initiative to observe a special drive refund
sanction fortnight from 15th to 29th March 2018 on an all India scale for which additional staff and infrastructure has been mobilised. Special refund cells manned by experienced
staff
is being put in place throughout the country.
Government wants to assure
the exporting community that it is keen to see that all
their eligible refund claims are considered and sanctioned at the earliest.
REFUND FORTNIGHT EXTENDED UPTO 31.3.2018 AND
THE RELEVANT NOTIFICATION IS GIVEN BELOW FOR
READY REFERENCE:
THE RELEVANT NOTIFICATION IS GIVEN BELOW FOR
READY REFERENCE:
PRESS RELEASE
28th March,
2018
Central Board of Excise and
Customs (CBEC)
has taken an initiative
to observe a refund sanction
fortnight from 15.3.18-29.3.18 on an all India scale. Administrative and logistical arrangements have been made in order to ensure that maximum
number of pending refund claims are
settled during the said fortnight. As per the reports from field offices of CBEC, most of the refund
claims which were pending due to errors committed while filing the GST returns and where exporters
came
forward with requisite documentation have been
settled. In order to facilitate further sanction of
refunds, CBEC
has decided to extend
the “Refund Fortnight” and keep open all the Customs field formations on 29.03.2018, 30.03.2018 and 31.03.2018 even though these are holidays/ non-
working days. Necessary administrative instructions have been
issued in this
regard.
Government is keen to ensure
that all the exporters get their refunds sanctioned
at
the earliestand, therefore, requests the exporters to avail this opportunity
to settle their refund
claims if not done as yet.
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