Rs. 143.86-crore IGST refund settled to exporters

The Customs Preventive Zone, Tiruchi, has settled Rs. 143.86 crore on account of Integrated Goods and Service Tax (IGST) refund to exporters.

Addressing a press conference here on Monday, Ranjan Kumar Routray, Chief Commissioner of Customs (Preventive), said that as part of IGST exports refund fortnight drive taken up from May 31, the department had expedited the process of settling IGST refunds to exporters from Tirupur, Puducherry, Arakkonam, Ambur, Salem, Hosur, Karur, Tiruchi, Madurai and other parts of the State. Almost all exporters, who had followed all standard procedures while filing IGST bills, had already been settled.

About 75% of exporters had been refunded. The zone had also cleared Remission of State levies (RoSL) to the tune of Rs. 34.41 crore from May 31 to June 8.

Stating that there was no delay on refunding IGST, duty drawback and RoSL to the exporters, Mr. Routray said that there were issues only to the exporters, who had given wrong information while filing IGST.

Some of them had given wrong Permanent Account Number or bank details. Since all transactions had been fully digitalised, the system would not process further if it encountered even a small mistake.

The exporters, who were waiting for refund, should make use of the opportunity to get back it.

However, there was absolutely no problems for those given correct information.

He said all officers had been instructed to expedite the process to disburse the export incentives to the exporters.

The exporters, who were not given their export incentives or refunds in time, would be settled within June 14.

Source