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June 19, Tuesday 2018 10:20 AM       

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       BUSINESS Next Article: Ind-Swift Laboratories raises Rs 424.5 crore via NCDs  
       GST refund drive extended till June 16
 
         Posted on :17:41:15 Jun 13, 2018
   
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       Last edited on:17:41:15 Jun 13, 2018
         Tags: GST, new delhi
 

NEW DELHI: The special fortnight-long drive to process pending Goods and Services Tax (GST) refunds has been extended by two more days till June 16.
The government launched the second "Special Drive Refund Fortnight" from May 31 to June 14. During the first Refund Fortnight from March 15 to 29, an amount of Rs 5350 crore was sanctioned.
During this fortnight, over Rs 7500 crore has been sanctioned.
All exporters whose refunds have been held up on account of short payment have been directed to make the payment of Integrated Goods and Services Tax (IGST) equal to short payment and follow the instructions of Circular No.12/2018-Customs dated 29.5.2018.
In IGST short payment cases, small exporters whose aggregate IGST refund amount for the period July 2017 to March 2018 is up to Rs 10 lakh will have to submit self-certified copies of proof of payment of IGST to the concerned Customs office at the port of export. Others can submit a certificate from a Chartered Accountant including the proof of payment.
All Goods and Services Tax (GST) refund claimants, whose claims are still pending, have been asked to approach their jurisdictional Tax Authority for disposal of their refund claims submitted on or before 30.04.2018. In case the jurisdiction (i.e. Centre or State) has not been defined for a particular claimant, he or she can approach either of the jurisdictional tax authorities.
All claimants should note the refund application in FORM GST RFD-01A will not be processed unless a copy of the application, along with all supporting documents, is submitted to the jurisdictional tax office. Mere online submission is not sufficient.
All IGST refund claimants will have to register on ICEGATE website to check their refund status.
Customs field formations have been informed about the extension of the refund drive.

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       BUSINESS
Next Article: Ind-Swift Laboratories raises Rs 424.5 crore via NCDs
 
 
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