Web
Analytics Made Easy - StatCounter
CBIC asks officers to meet GST refund target - GST Station

CBIC asks officers to meet GST refund target

CBIC asks officers to meet GST refund target

    In a swift action following Finance Minister Nirmala Sitharaman`s promise to clear all pending GST refunds of micro, small and medium enterprises (MSMEs) within 30 days, Central Board of Indirect Taxes and Customs (CBIC) has prodded its field officers to make “all possible efforts to successfully realise this target.”

    In a swift action following Finance Minister Nirmala Sitharaman`s promise to clear all pending GST refunds of micro, small and medium enterprises (MSMEs) within 30 days, Central Board of Indirect Taxes and Customs (CBIC) has prodded its field officers to make “all possible efforts to successfully realise this target.” “We must endeavour to make this refund drive a grand success,” CBIC Chairman Pranab K. Das wrote to tax officers across the country.

    In case of exporters waiting for their pending integrated GST or IGST refunds, the Chairman has directed the officers to make the process smooth. Das, however, cautioned the officers about risky exporters and asked them to extend support only to genuine exporters.  Further, the field officers have been advised to create awareness among traders about errors that result in delay of refunds and avail the mechanism provided currently to get back their refunds.

    “However, it may be noted that the facilitation is extended only for genuine exporters, but for the risky exporters, the line of action shall be to safeguard the revenue first,” CBIC chief wrote. As part of measures to boost economy and lift business sentiment, Nirmala Sitharaman had on August 23 said that all the pending GST refunds, due to MSMEs till now ill be executed within the period of 30 days. Fresh claims of refunds will be settled in 60 days in order to ensure that working capital is not blocked.

    Among other issues of top priority for the indirect tax authority is to enable businesses to file their GST returns for Financial Year 2018 by the extended due date of November 30, 2019.  The CBIC chief has asked field officers to extend all possible cooperation to taxpayers for this.

    Source- Zee Business.

COMMENTS

WORDPRESS: 0
DISQUS: 0