Single authority mechanism for processing GST refunds to exporters soon

Move will help sanction and process refunds faster; may boost exports

Economic slowdown hits states' GST revenues more than Centre, shows data

The upcoming Goods and Services Tax (GST) Council meeting on September 20 is likely to approve the mechanism to allow a single authority — state or Central — to sanction and process GST refunds for exporters in a faster and simpler manner. Refunds of around Rs 10,000 crore have piled up. The move is expected to give a fillip to the struggling exports sector, which contracted 0.37 per cent to $107.41 billion in April-July 2019-20.  Outbound shipments are facing headwinds due to weak global demand and liquidity constraints. The GST Council, comprising the Union ...