The department of revenue has promised to refund tax claims
of exporters within seven days under the new GST regime, thus addressing a
major concern of the sector, Commerce and industry minister Nirmala sitharaman
said today.
The minister also said that exporters would get interest on
the refund if it is delayed beyond two weeks.
Exporters have been demanding an initio exemption from
payment of taxes under the goods and services tax consultant in Delhi (GST) regime arguing that
delay in refunds often takes months and also results in blocking the working
capital. They also stated that exports need to be encouraged in view of the
global slowdown. The minister recently raised the issues of exporters in the
GST council meeting. The concern of the
exporters was that the refund should not take too long, She told reporters
after chairing the meeting of the council for trade development and promotion
here today.
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