GST ONLINE

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 sancti oned 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 ...

More than 68,000 companies have been registered in eight months following the implementation of the Goods and Services Tax (GST) regime, Union Minister P P Chaudhary said on Friday. GST --the biggest tax reform-- was rolled out from July 1, 2017. "The total number of companies registered during the period from July 2017 to February 2018 (post GST) is 68,299," the minister of state for corporate affairs said in a written reply to the Lok Sabha. In comparison, the number of such entities was 63,106 between July 2016 and February 2017. Thus increasing trend in the number of companies' registrations has been maintained post GST, the minister added.