GST Refunds-Exporters File Over 10,000 Applications for November
By: Tax Hunts
December 5, 2017
Exporters have filed over 10,000 application for the GST Refunds-Exporters for November. CBEC asked them to ensure that the claims do not exceed the GST paid in that month. The CBEC (Central Board of Excise & Customs) had started the refunds for exporters of goods last month, who have paid IGST and claimed the refund based on shipping bill by filling up table 6A.
GST Refunds-Exporters File
Earlier this month, CBEC allowed the businesses to fill Form RFD-01A, who are making zero-rated supplies; or those who have paid IGST on exports or those who want to claim input credit. They were asked to approach the commissioner of state tax and the chief commissioner of central tax & the commissioner of state tax for the claim.
As per the statement by the GST Network, exporters have already filed 3, 05,677 applications using RFD-01 and 4,386 applications using Table-6A of GSTR-1. As per the Finance Ministry, the exporters had claimed refunds of Rs. 6,500 Crores in the first four months of the GST rollout. Finance Ministry advised them to file claims in proper form with matching shipping bills to facilitate early settlements.
GSTN said that to claim refunds for any month, the exporter would have to file initial sales return or GSTR-3B for that month. The amount of refund declared in Table-6A should not be more than the amount paid in GSR-3B of that month. This would help in avoiding delay or rejection of Integrated GST (IGST) refund demand.
GSTN said that it is essential that the exporters fill the refund details accurately as; they have designed the computer system to automatically give refunds without the engagement of any officer by matching data; that the exporter has furnished on the GST Portal and Customs System.