Finance Ministry assures exporters of expeditious solution for GST refund

Delays in GST refunds to exporters are attributed to technical glitches in GSTN which are being corrected but the government is committed to refunding zero rated export goods with the minimal of human interface , senior Finance Ministry officials have informed a high level delegation of the EEPC India .

Chairman of the apex engineering exporters’ organisation EEPC India T S Bhasin and Vice Chairman Pankaj Chadha met senior Finance Ministry officials last week, apprising them of a grave situation of cash crunch arising out of delays in the exporters’ refunds , after implementation of the Goods and Services Tax.

Bhasin conveyed exporters’ concern over the accumulating refunds and shortage of working capital for the exporting community. All this is leading to fall in exports, as was witnessed in the subdued export  data for October.

Officials reiterated that the Government is committed to refunding zero rated goods and “ will do everything “ in this direction. The Government is also keen to ensure that there is minimal human interface and it is for this reason technical glitches are being corrected. In the process, however, delays are occurring in clearance of the refunds.

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