Second Phase For Exporters GST Refund To Continue Till June 14-Exporters GST refund

The Chief Commissioner of Central tax, central Excise and custom have recently announced to initiate a special drive for GST refunds from 31st May to 14 June. It will be the second phase of GST refunds after a successful special drive for export return between March 15 to March 30 where the Central Board of indirect taxes and Customs (CBITC) have refunded a total of INR 17616 crore. Out of which, 9604 crore was integrated GST refunds, 5510 crore was ITC refund by the centre and 2502 crore was ITC refund by State. Under this second phase of GST refund, special camps will be organized on June 4 and June 8 in order to settle any refund cases of IGST, SGST, CGST, ITC, excess tax payment, etc. As reported by Indian Express, the Central Bureau of indirect taxes and Customs has sanctioned the GST refund of Rs. 2500 crores which is about 18% of the total pending amount by June 7 2018. Read More

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