Third GST Refund Fortnight results in Rs. 3,391 Crs Outflow

As part of the continued focus of the Government of India to liquidate pending GST refunds, the Central Board of Indirect Taxes and Customs (CBIC) has successfully concluded the Third Refund Fortnight from 16^th July, 2018 to 31^st July, 2018. Till 31^st July, 2018, the total GST refunds disposed by the Centre and the States are to the tune of Rs 54,378 Crore.

During this Refund Fortnight, apart from various measures like Special Refund Cells at CBIC offices, Exporter Awareness Campaigns etc., a unique facility was provided by CBIC. It was for the First Time that officers of CBIC reached-out to doorsteps of the exporters for sanctioning of refunds by the way of GST Refund Help Desks. The GST Refund Help Desks were established at 11 locations in the offices of FIEO, EEPC and AEPC for the ease of exporters. These Help Desks were manned by the officers of CBIC who were tasked with assisting the exporters in resolving issues related to refunds. These Help Desks provided an extension of CBIC offices, thus eliminating any need to go to Customs office for submission of documents. During the period, all field formations of CBIC and the States, once again worked very hard to provide all assistance to the exporters to ensure quick disposal of their refund claims.

By the end of 31^st July, 2018, the total amount of IGST refund claims disposed by CBIC is Rs 29,829 crore taking the disposal rate to 93%. During the third Refund Fortnight, the IGST refunds of amount Rs 3,391 crore have been sanctioned by CBIC.

As on 31^st July, 2018, in case of RFD-01A refunds, the amount disposed by the CBIC is Rs 16,074 crore and that by State authorities is Rs 8475 crore, taking total amount of RFD-01A refunds to Rs 24,549 crore.

The remaining GST refunds pending with CBIC will continue to be processed expeditiously. However, the exporters are requested to ensure that the correct procedure of filing returns, giving accurate information in Shipping Bill and submitting RFD01A Application Forms to the jurisdictional formations are followed for quick disbursal of their GST refund claims.