Govt to clear GST refunds of exporters in 2 months

Revenue Secretary Hasmukh Adhia said no tax will be levied on exports for the next six months.

Revenue Secretary Hasmukh Adhia has said the Government of India will clear pending GST refunds of exporters by end of next month.
 
As per him, the GST Council has decided to revert to the pre-GST era and, hence, no tax will be levied on exports for over the next six months.
 
In July-August months, an estimated Rs 67,000 crore has been collected as the Integrated GST (IGST).
 
The Secretary said only about Rs 5,000-10,000 crore will be due, which will be refunded to exporters.
 
Exporters are facing liquidity crunch as they are mandated to first pay IGST on manufactured goods and then claim refunds after exporting them.
 
From April 1, an e- wallet service will be launched that will give exporters notional credits that can be used to pay GST, he said. The credit in the wallet would be transferable.
 
Source: PTI

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