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Exporters’ GST Refund Worth Rs. 50,000 Crores “Stuck”
December 01, 2017
Four months in, the Indian exporters are still waiting for the release of a minimum of Rs. 50,000 crores worth of Goods and Services Tax (GST) refunds from the government. This has greatly affected the business operations of a slew of exporters as a large number of their outbound shipments are still pending and they struggle to meet their capital requirements.
So far, only Rs. 350 crores of the refunds are released on the basis of Integrated GST (IGST) by the government. To make the matters worse, the Input Tax Credits are also yet to be released.
