VATupdate
VAT

Share this post on

Exporters’ wait for I-GST refunds may get even longer

In the online system, a firm offsets taxes paid on input from the IGST to be paid on export and then applies online for refund. The entire process of receipt of refund takes about two weeks or less.

However, the indirect tax department has decided to introduce manual checks to curb large-scale tax evasion. The customs department would now hold the refunds until it receives “all-clear” signal from the respective GST field formations.

Source: Financial Express

Sponsors:

VAT news
VAT news

Advertisements:

  • VATupdate.com