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Sep 20, 2017
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Fast-track GST refund, else Rs 65,000 crore may get stuck: Exporters tell government
The fear of liquidity crunch stemming from the delay in refund process under the GST regime dominated Tuesday’s meeting held by the Committee on Exports, headed by revenue secretary Hasmukh Adhia, with eight export promotion bodies. The issues raised by the exporters are likely to feature prominently in the next GST Council meeting. In its 21st meeting in Hyderabad earlier this month, the GST Council had decided to form a committee on exports to review issues faced by the exporters in getting tax content in exports neutralised and suggest remedies to the Council. While exports are in principle “zero-rated”, the GST regime prefers tax refunds than tax waivers. “If refund does not start flowing immediately then about `65,000 crore would be stuck by the end of October.
Source -
http://www.financialexpress.com
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