Second phase of Special GST refund drive starts from today

New Delhi, May 31 (KNN) In a move to clear refund claims of exporters under Goods and Services Tax (GST), government will begin a second ‘Special Drive Refund Fortnight’ from 31st May 2018 to 14^th June 2018.

This time the “Special Drive Refund Fortnight” would facilitate all types of Refund claims in which Customs, Central and State GST officers will strive to clear all GST refund applications received on or before 30.04.2018.”

This will include refunds of IGST paid on exports, refunds of unutilized ITC and all other GST refunds submitted in FORM GST RFD-01A, the release said.

Refund claims to the tune of Rs 14,000 crore (Rs.7,000 crore on the IGST side and Rs 7,000 crore on account of ITC) are pending with the Government as on date, as against the figure of Rs 20,000 crore projected by exporters’ body FIEO in the press reports.

In the first phase of refund fortnight observed during March 15 to March 30, the Central Board of Indirect Taxes and Customs (CBIC) had cleared refunds totaling Rs 17,616 crore. 

This comprised Rs 9,604 crore of Integrated GST refunds, Rs 5,510 crore ITC refund by the Centre and Rs 2,502 crore ITC refund by states. 

The release further asked the exporters that 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 by an applicant to the jurisdictional tax office.

Mere online submission is not sufficient, the release added.