Appreciating the large number of disposal
of IGST and ITC refunds applications of exporters, by the Centre and the
States, during the second clearance drive, President FIEO, Mr Ganesh Kumar
Gupta said that exporters deeply acknowledge the huge efforts of tax
authorities during the clearance drive helping easing out their liquidity
constraints. He thanked Finance Minister, Revenue Secretary and Chairperson
CBIC for their initiatives and close monitoring resulting in such success, says
a FIEO release.
Mr Gupta said that it is very heartening that
tax authorities will continue to be in disposal mode even after the drive
period, which will eventually eliminate pendency.
President FIEO, however, urged that the software
for ITC refund may be modified immediately so that those exporters having ITC
claim and exports in different months can file application since they are
waiting for last 11 months. He also suggested to move to a complete online ITC
refund, on the lines of IGST, to reduce transaction time and cost.