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Update Category: Automated GST Refund for Exporters and Suppliers to SEZ likely from June 2019
Update Source:
News Paper Report and Ministry sources
Release No.:
TM/GST/034 dated 16th May 2019

Automated GST Refund for Exporters and Suppliers to SEZ from June 2019:

Currently exporters are allowed automated refund in cases where the IGST is paid upfront (i.e. Exports made with payment of duty). Refund application is to be made by the exporters who claim refund of ITC as well as for the suppliers to SEZ.

If Ministry sources are to be believed, Exporters of goods and services as well as suppliers to SEZ units or developers are likely to get automatic GST Refund. Department is planning to introduce faceless scrutiny of refunds and thus faster claim settlement.

Currently, exporters who export goods or services, without payment of duty, and suppliers to SEZ units or developers are required to make refund claim in Form RFD – 01A on the common portal and submit the same along with print out of other documents. The refund application is then scrutinized by the department and refund is granted. This process takes a longer time.

Once the new scheme is implemented, the refund processing claim shall get reduced to a fortnight.

Note: This is for information only. For exact details of changes, the notification/Circular may please be referred to, as and when they are issued.


 

Published by

Rohit Kumar Singh
(Founder - TaxMarvel Consulting Services LLP)
Category GST   Report

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