TMI BlogClarification on Sanction of GST RefundsX X X X Extracts X X X X X X X X Extracts X X X X ..... Clarification on Sanction of GST Refunds - Goods and Services Tax - GST Dated:- 13-10-2018 - News - It has been noticed that unverified reports of pending GST refunds on account of exports are published in the print media by trade bodies. These figures being put out in the public domain are exaggerated and thus inaccurate. It is a fact that a large number of exporters have been granted refunds s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... o far while a few claims are still pending owing to deficiencies found in the claims. In this regard, it is clarified that about 92.68% (Rs 38,824 crore) of the total IGST refund claims (Rs. 41,889 crore) transmitted to Customs from GSTN as on date have already been disposed. The remaining claims amounting to ₹ 3065 crores are held up on account of various deficiencies which have been ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... communicated to exporters for remedial action. In the case of RFD-01A (ITC Refund) claims with Centre and States, the pendency as on date is only ₹ 2,077 Crore. Out of the refund claims of ₹ 39,372 Crore received, provisional/final order has been issued in case of refunds amounting to ₹ 32,345 Crore. In claims amounting to ₹ 4,951 Crore, deficiency memos have been is ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sued. Thus, actual pendency is far less than is being put out for the knowledge of the public. The overall disposal of GST refunds is ₹ 71,169 Crore till date. Refund claims without any deficiency are being cleared expeditiously. Efforts are being made continuously to clear all the dues on account of pending refund claims. Co-operation of the exporter community is solicited to ensure t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hat they exercise due diligence while filing GSTR 1 and GSTR 3B returns as well as Shipping Bills. Extensive outreach programmes have been conducted along with issuance of guidance circulars, advisories, FAQs, advertisements etc and also an alternative procedure involving manual interface has been provided where the errors could not be corrected online. The efforts are beginning to show ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... positive results. The exporting community is assured that all their eligible refund claims will be sanctioned without any delay. Further, the export bodies are also requested to put out only verified figures in their press communication as unsubstantiated reports cause needless alarm amongst the exporters. - News - Press release - PIB Tax Management India - taxmanagementindia - taxmanagement ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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