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Tax refunds to exporters won’t be delayed under GST regime, says Nirmala Sitharaman

Gone are the days when the exporters have to wait indefinitely to get their tax refund claims from the government and with the ushering of GST regime the refund flow to exporters will be time bound. In case of delay the government will pay the interest charges.

Exporters would be getting their tax refund claims (on incentive schemes) in a period of six to 10 days under the Goods and Services Tax (GST) regime which is likely to come into force from July 1, 2017 following the finalisation of the rates last week.

Addressing this key concern of exporters at a media interaction here, the Commerce Minister, Ms Nirmala Sitharaman emphasised that the GST Council has accepted the Ministry’s suggestion that most of the refund due, 90 per cent of the advance paid money, would be given within six to 10 days. Subsequently, an interest of six per cent would be provided to the exporters for any delay by the government.

Given that the refunds are often delayed for months, exporters have been demanding exemption from payment of advance taxes under the GST regime.

As regards small and medium enterprises (SME), she said that her Ministry had requested the GST Council to consider an alternative rather than asking SME players to pay advance tax first and then get refund, said a communiqué.

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