In a bid to address the issues of Export refund claims, the Central Board of Excise and Customs (CBEC) has decided to set up camps across the Country from March 15. While confirming this, CBEC Chief Vanaja Sarna said that there are instances of exporters committing errors while filing refund claims and to help them, the department has started giving out refunds partially with manual intervention.”Now to solve it completely we have instituted a special fortnight campaign, starting from March 15 which will go on till March 29.
“So we hope that by March 31 all pending refunds as far as exporters are concerned will be sorted out,” Sarna said.
Delay in GST Refund to exporters has adversely affected the exporters business as the same has resulted in blocking their working capital.
As an interim relief, the GST Council had decided to implement e-wallet scheme for refunds to exporters by October 1 as per which, 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.
The 26th GST Council Meeting, on Saturday, extended the present benefits to the exporters for next three months.
An official statement issued after the Council’s meeting said that the CBEC and the Goods and Services Tax Network (GSTN) have started detailed data analytics and preliminary data analysis has revealed that there is variance between the amount of Integrated GST (IGST) and compensation cess paid by importers at Customs ports and input tax credit for the same claimed in GSTR-3B.Besides, it has come to light that there are major data gaps between self-declared liability in GSTR-1and GSTR-3B.
“It was deliberated that this information may be further analyzed and adequate action may be initiated accordingly,” the statement added.