Delay in refunds impacting small exporters due to their inability to follow up, dealing with refund authorities: Expert
New Delhi, Oct 12 (KNN) The delay in refund in account of IGST (integrated GST) and ITC (input tax credit) is mainly impacting small exporters due to their inability to follow up and dealing with refund authorities, said Animesh Saxena, Managing Director, Neetee Clothing, Gurgaon cum Executive Member of Apparel Exporters and Manufacturers Association.
Talking to KNN India, he said “Refunds for medium and large units have been resolved but problem remains for small exporters due to their inability to follow up and dealing with refund authorities. This is creating liquidity crunch for them.”
To expedite the clearances, he suggested that more refund camps should be organized in export clusters under supervision of senior officers.
Exporter’s body, Federation of Indian Export Organization (FIEO) has estimated that refund of over Rs 20,000 crore is pending with the government on account of GST refund, creating liquidity crisis for exporters.
FIEO, President Ganesh Gupta said “the GST refund process has considerably “slowed down” and the federation has urged the finance minister to look into the refund problem and organize a clearance drive to liquidate the pendency and bring the refund process on track.