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Rs 54,378 crore of refunds processed under GST

August 2, 2018

As part of the continued focus of the government to liquidate pending GST refunds, the Central Board of Indirect Taxes and Customs (CBIC) has successfully concluded the Third Refund Fortnight from July 16, 2018 to July 31, 2018. Till July 31, 2018, the total GST refunds disposed by the Centre and the States are to the tune of Rs 54,378 crore.

During this Refund Fortnight, apart from various measures like Special Refund Cells at CBIC offices, Exporter Awareness Campaigns etc., a unique facility was provided by CBIC. It was for the first time that officers of CBIC reached out to doorsteps of the exporters for sanctioning of refunds by the way of GST Refund Help Desks.

The GST Refund Help Desks were established at 11 locations in the offices of FIEO, EEPC, and AEPC for the ease of exporters. These help desks provided an extension of CBIC offices, thus eliminating any need to go to the customs office for submission of documents.

By the end of July 31, 2018, the total amount of IGST refund claims disposed by CBIC was Rs 29,829 crore taking the disposal rate to 93%. During the Third Refund Fortnight, the IGST refunds of amount Rs 3,391 crore have been sanctioned by CBIC.

As on July 31, in case of RFD-01A refunds, the amount disposed by the CBIC was Rs 16,074 crore and that by the state authorities was Rs 8475 crore, taking the total amount of RFD-01A refunds to Rs 24,549 crore.

The remaining GST refunds pending with CBIC will continue to be processed expeditiously. However, exporters are requested to ensure that the correct procedure of filing returns, giving accurate information in shipping bill and submitting RFD01A application forms to the jurisdictional formations are followed for quick disbursal of their GST refund claims.

(Source PIB)

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