With an estimated Rs 20,000 crore exporters’ refund still stuck, the government will launch the second phase of refund fortnight beginning May 31 to fast-track clearances. “Special Refund Fortnight” to be organised from May 31 to June 14 in which Center and state GST officers will strive to clear all GST refund applications received on or before April 30, 2018,” GST@GoI, which is the official twitter handle for GST related matters, tweeted.
The “Special Refund Fortnight” is for all GST refunds, including refund of IGST paid on export of goods and all refund claims submitted in FORM GST RFD-01A on or before 30.04.2018.
In March, the government had launched a similar exercise to process the pending GST refunds on account of exports. However this time,this time the “Special Drive Refund Fortnight” would facilitate all types of Refund claims in which Customs, Central and State GST officers will strive to clear all GST refund applications received on or before 30.04.2018.
Refund claims to the tune of Rs 14,000 crore (Rs.7,000 crore on the IGST side and Rs 7,000 crore on account of ITC) are pending with the Government as on date, as against the figure of Rs 20,000 crore projected by exporters’ body FIEO in the press reports.
The refund application in FORM GST RFD-01A will not be processed unless a copy of the application, along with all supporting documents, is submitted by an applicant to the jurisdictional tax office.
Mere online submission is not sufficient, the release added.