Tax Department Clears Rs 7,000-Crore GST Refunds

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The tax department has cleared more than Rs 7,000 crore worth of pending refunds of exporters during the initial phase of the special refund drive undertaken by the authorities.

The Central Board of Indirect Taxes and Customs (CBIC) has also asked exporters, traders and other claimants to avail this opportunity of Special Refund Fortnight from May 31, 2018 to June 14, 2018 and visit their jurisdictional GST office or Customs House/Port and settle pending claims.

“More than Rs 7,000 crores of IGST/ ITC refunds sanctioned till now during the ongoing special refund fortnight,” the CBIC said on Twitter. The department is organising the refund fortnight from May 31 to June 14.

The government has taken several measures to ease the backlog of refunds and help exporters and traders. It has run several campaigns to ensure a smooth flow of refunds after exporters complained of a huge backlog which was affecting shipments.

The government has taken several measures to ease the backlog of refunds and help exporters and traders. It has run several campaigns to ensure a smooth flow of refunds after exporters complained of a huge backlog which was affecting shipments.

SOURCETimes of India

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