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Finance Minister to soon meet GSTN officials to fix MSMEs refund issues

Updated: Aug 26, 2019 07:41:22am
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Finance Minister to soon meet GSTN officials to fix MSMEs refund issues

New Delhi, Aug 26 (KNN) Along with the booster doze of incentives announced by the government for the micro, small and medium enterprises (MSME) sector, Finance Minister Nirmala Sitharaman said the government is also planning to clear their dues pending with various departments and GST authorities.

Talking to reporters on the sidelines of press conference held last week, Sitharaman said the expenditure department had cleared pending bills of close to Rs 30,000 crore and it will closely monitor payments in the future as well, along with the Cabinet Secretariat.

She said the Ministry has also instructed the Central Board of Direct Taxes (CBDT) to clear pending Goods & Services Tax (GST) refunds of MSMEs within 30 days.

She said, all such GST refunds have to be made within 60 days from the date of application.

The MSME associations have time and again raised the issue to delayed payment with the Finance Minister and MSME Minister. They had clearly told that government agencies were the real trouble givers in terms of clearing pending dues of the MSME suppliers.

Expenditure secretary G C Murmu even said dues to MSMEs would be to the tune of Rs 60,000 crore.

Sitharaman will reportedly hold meetings soon with officials of the Goods and Services Tax Network (GSTN) to discuss ways to facilitate all pending GST refunds to MSMEs within 30 days.

The finance minister has already instructed officials to divide the pending payments into two parts, one where there are disputes or legal issues involved, and second where there are no issues involved and necessary records are available so that payment can be made on time.

So, companies which have no legal hassle can expect their refund within 30 days.

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