GST Exporter Refunds Deposit In Account Notified With Customs

Subscribe to GoodReturns
For Quick Alerts
Subscribe Now  
For Quick Alerts
For Daily Alerts

    So far exporters made an outcry due to the disadvantage they were landed in due to the implementation of GST. But considering their demands and the loss the sector had suffered, the government is fast gearing to rule out the different errands.

     GST Exporter Refunds Deposit In Account Notified With Customs

    As part of the drive, the refunds that remained due to them are now being said to be submitted by November end in the bank account provided by the exporters to the customs dept. Further, CBEC has asked the exporters to match their bank accounts with both the CBEC and GST.

    The CBEC said," In order to ensure smooth processing and payment of refund of IGST paid on exported goods, it has been decided that said refund amount shall be credited to the bank account of the exporter registered with customs even if it is different from the bank account of the applicant mentioned in his registration particulars,"

    During the period between July and August, of the total I GST of Rs. 67000 crore, Rs. 5000 - Rs. 10000 crore is due to the exporters as refunds. For such claims, exporters need to fill in table 6A with the GSTR1 for the three months.

    Read more about: gst exporters refund igst customs
    Story first published: Saturday, October 14, 2017, 15:08 [IST]
    Company Search
    Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

    Find IFSC

    Get Latest News alerts from Goodreturns

    We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more