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Exporters to Receive Rs. 600 cr Refund from Finance Ministry
September 25, 2017
To help the exporters whose businesses were impacted by the implementation of the GST regime, the Finance Ministry has decided to refund Rs. 600 crores of the taxes paid by them. According to a government official, the ministry is also working on a scheme for the refund of taxes for exporters. It will be placed before the Goods and Services Tax Council on October 6.
The government’s initiative regarding tax refunds bears a relation to Federation of Indian Export Organisations (FIEO) Director General Ajay Sahai, who recently said that if the refunds don’t start coming in soon, it could lead to stalling of transactions worth Rs. 60,000- 65,000 crores by October end.
