THIRD GST SPECIAL REFUND FORTNIGHT FROM 16.7.2018 TO 30.7.2018 IN INDIA
The Goods and Services Tax Act, 2017 came into force in India with
effect from 1.7.2017.
The Central Government has announced “Third Special GST Refund
Fortnight” from 16.7.2018 to 30.7.2018 and the relevant Circular is given below
for ready reference:
PRESS RELEASE DATED 16.7.2018
CBIC to observe Third Refund Fortnight to clear pending refunds
Refunds of GST have been a concern for the Government
and
Trade for the past
several months. In this regard, the CBIC has observed two special drives cum refund
fortnights in the Month of March, 2018 (15th to 31st March, 2018) and June, 2018 (31st
May
to 16th June, 2018) respectively. These refund fortnights
have provided a lot of relief
to the trade. In the 1st refund fortnight, Rs. 4265 Crore IGST refunds and Rs. 1136 Crore
ITC refunds were sanctioned by field formations of CBIC. Similarly, during the 2nd refund fortnight, Rs. 6087 Crore IGST refunds and Rs. 1548 Crore ITC refunds were sanctioned by CBIC. In case of IGST refunds for goods exported
out of India, the percentage of amount of refund claims disposed by CBIC is already more than 90%.
However, in order to liquidate
pendency further, and to handhold/guide the trade
for applying for the refund claims in a proper manner, it has been decided to observe another
refund fortnight from 16th July, 2018 to 30th July, 2018. Dedicated refund cells and
helpdesks would be provided for exporters to get their refund claims processed,
in each
Commissionerate.
The exporters and export organizations are requested to take benefit of this opportunity to get their pending refund
claims processed.
The facility to view reasons for pending
IGST refunds have been provided on ICEGATE. As the IGST refund procedure is designed for seamless electronic processing if sufficient and correct details
are filed by the exporter, so Export organisations and Export
Promotion Councils must come forward
to assist exporters in observing
the correct procedure
to file refund claims and in rectification efforts in the case of
errors.
The Central Government has
announced “Third Special GST Refund
Fortnight” from 16.7.2018 to 31.7.2018 and
the result of the 3rd
Special Refund Fortnight issued by the Central Government
and the
same Press Release is given below for ready reference.
Government of
India Ministry of Finance Department
of Revenue
(Central Board
of Indirect Taxes& Customs)
*****
01-August-2018
Press Note
Total Rs 54,378
Crores of Refunds processed under GST
As
part of the continued focus of the government to liquidate
pending GST refunds,
the Central Board of Indirect Taxes and
Customs (CBIC) has successfully concluded the third refund fortnight from 16th July, 2018 to 31st July, 2018.
Till 31st July, 2018, the total GST refunds
disposed by Centre and States are to the tune of Rs
54,378 Crore.
During this
refund fortnight, apart from various measures like Special refund cells at
CBIC
offices, exporter awareness campaigns etc., a unique facility was provided by
CBIC. It
was
the first time that officers of CBIC reached out to doorsteps of the exporters for sanctioning of
refunds by the way of GST refund Help Desks. The GST refund Help Desks were established
at
11 locations in the offices of FIEO, EEPC and AEPC for the ease of exporters. These Help Desks were manned by officers of CBIC who were tasked with assisting the exporters in
resolving issues related to refunds. These Help Desks provided an extension of CBIC offices, thus
eliminating
any
need to go to Customs office for submission of documents. During the
period, all field formations of CBIC and States, once
again worked hard
to provide all assistance to
the
exporters to ensure quick
disposal of refund claims.
By the end of 31st July,2018, the total amount of IGST refund claims
disposed by CBIC is Rs 29,829
Crore taking the disposal rate to 93%. During the third refund fortnight, the IGST
refunds of amount Rs 3,391
Crore have been
sanctioned
by
CBIC.
As on 31st July, 2018, in case of RFD-01A refunds, the amount disposed by the CBIC
is Rs 16,074 Crore and that by State authorities is Rs 8475 Crore, taking
total amount of RFD-
01A refunds to Rs 24,549 Crore.
The remaining GST refunds pending with CBIC will continue to be processed expeditiously. However, the exporters are requested to ensure that the correct procedure
of filing returns, giving accurate information
in Shipping Bill and submitting RFD01A application forms to the
jurisdictional formations are followed for quick
disbursal of their GST refund
claims.