GST Refund Claims

The government has sanctioned GST refunds worth about Rs 127 billion or 80 per cent of the eligible claims of exporters, an official said on Sunday.

The Central Board of Excise and Customs (CBEC) had organised refund facilitation camps in field offices between March 15-31 to assist exporters in filling up refund claim forms and correct errors.
"IGST refund claims worth Rs 86 billion till January 31 were lying with the CBEC. Of this, Rs 77 billion worth claims have been sanctioned so far," a senior official told PTI.
With regard to those exporters who claimed refund of their input tax, the CBEC has sanctioned about Rs 50 billion, out of Rs 69 billion due till February end, the official added.
"The CBEC has sanctioned Rs 127 billion IGST and Rs 50 billion Input tax credit (ITC) refunds. Together, this accounts for 80 per cent of the eligible claims lying with CBEC," the official added.
About Rs 28 billion worth eligible refunds are pending which will also be cleared soon, he said.

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