GST authorities fail to adhere to timelines

Categories: GST Recent News, News
No Comments

A Patiala-based textile exporter has been awaiting State Goods & Services Tax (SGST) refund for the past three months. The delay in refund has cascading effect on the working capital of the manufacturer and also on outbound shipments. In another case, a Chandigarh based exporter has not been granted refund to date on an application submitted in February.

Most of the refunds, especially in case of exporters, have been delayed beyond the time stipulated under the GST Act. The delay in refunds has not only impacted these two exporters but there are many others in Chandigarh and Punjab who are facing delays in refunds, despite the Centre’s and state’s repeated assurance of speedy refunds.

As per law, in case of exporters, 90% provisional refund must be granted to the exporter within seven days from the date of acknowledgement. Thereafter, upon detailed scrutiny, the refund order shall be issued within 60 days from the date of acknowledgement. Further, Section 56 of the Act prescribes that where the tax is not refunded within 60 days of the receipt of application, an interest at the rate of 6% shall be given to the taxpayer.

Read More at: https://www.tribuneindia.com/news/business/gst-authorities-fail-to-adhere-to-timelines/762919.html

CLOSE
CLOSE