CBIC clears pending GST refunds of over Rs 7,000 cr of exporters in 1st nine days of special refund fortnight

New Delhi, June 9: Central Board of Indirect Taxes and Customs (CBIC) has cleared over seven thousand crore rupees of the pending GST refunds of exporters in the first nine days of the ongoing Special Refund Fortnight.

 

The department asked exporters and traders to visit their jurisdictional GST office and settle pending claims during the fortnight from 31st May to 14th June. About 14 thousand crore rupees of refunds of exporters were pending due to various mismatches.

CBIC organized the special fortnight to fast-track clearances. The CBIC has also allowed clearance of GST refunds based on PAN of exporters if such refunds were held up due to a mismatch in GST identification Number mentioned in shipping bill and return forms.

A circular issued by the Board last day said that the refund should be cleared if the Permanent Account Number (PAN) mentioned in shipping bill and returns form GSTR-3B/GSTR-1 is same. Mismatch in GST identification number (GSTIN) happens when the entity filing shipping bills is a registered office and the entity which has paid the Integrated GST (IGST) is a manufacturing unit. The Board said that the entity claiming refund would have to give an undertaking that it will “not claim any refund or any benefit of the amount of IGST so paid”.