Adityanath government institutes exclusive cells to help industries
Further refunds of about Rs 7,760 cr to be made soon, GST refund claims of Rs 3,800 cr also processed
Currently, under the LUT route, they need not pay tax on their export bills, but they stand to lose refunds on taxes paid on capital goods. Taxes on all other inputs get refunded
In addition, he also asked officials to think of ways to assess the GST amount collected at the district level
Make sense of all the announcements made by Finance Minister Nirmala Sitharaman for the exports sector
Ministry also targets 66% rise in credit, setting up of 400 clusters and Rs 50,000 cr in procurement from sector
The remaining claims amounting to Rs. 24.73 billion are held up on account of various deficiencies
Input tax credit refunds amounting to Rs 53 bn were stuck till the first week of November
Pending GST refund claims of Rs 54 bn being processed expeditiously: Ministry
As much as Rs 30.96 billion worth of IGST refund claims are held up on account of "various deficiencies"
Finance Ministry clarified that about 92.68% Rs 388.24 bn of the total IGST refund claims (Rs 418.89 bn) transmitted to customs from GSTN as on date have already been disposed of
FIEO had earlier this week said Rs 220 billion GST refunds are pending with the government, which is creating liquidity problems for exporters
Initially, only purchases made by tourists from big retailers would be eligible for GST refunds at the airports
About Rs 140 billion of refunds of exporters were stuck due to various mismatches
About Rs 28 billion worth eligible refunds are pending which will also be cleared soon
PMO to meet with Commerce, Finance ministry officials on Monday to brainstorm issue as refund claims pile up
Overall, the Foreign Trade Policy review sends a signal about the government's commitment to promote exports
Exporters asked to ensure claims don't exceed monthly amount paid under GST