The finance ministry has said that total Goods and Services Tax (GST) refunds to the tune of Rs 91,149 crore has been cleared by the Central Board of Indirect Taxes and Customs (CBIC) and the state authorities out of the total refund claims of Rs 97,202 crore received so far. Thus, the disposal rate of 93.77 percent has been achieved. It also indicated that the pending GST refund claims amounting to Rs 6,053 crore are being expeditiously processed so as to give relief to eligible exporters.
Giving the refunds' break-up, the Ministry said that Rs 48,455 crore of IGST refunds have been disposed of as on November 28, which is 95 per cent of the total such claims. It also indicated that as much as Rs 2,473 crore worth of IGST refund claims are held up on account of various deficiencies which have been communicated to exporters for remedial action. In the case of input tax credit claims, it noted that the total claims of Rs 46,274 crore, the pendency as on December 3 stood at Rs 3,580 crore.
It further said that efforts are being made continuously to clear all the pending refund claims, where ever requisite information is provided and found eligible. It also noted that co-operation of the exporter community is solicited to ensure that they respond to the deficiency memos and errors communicated by Centre and State GST as well as Customs Authorities and also exercise due diligence while filing GSTR 1 and GSTR 3B returns as well as Shipping Bills.