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Jul 16, 2018
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Guidelines issued for faster IGST refunds
The government has issued guidelines for Integrated Goods and Services Tax (IGST) refunds for goods and services supplied to units in special economic zones (SEZ).The detailed guideline are based on notification/circulars issued by the Finance and Commerce Ministries.Based on the guidelines, the supplying companies will have to submit documents to specified officers. This will facilitate endorsing receipt of goods and services for authorised operations in SEZs, and finally the refund.The detailed guidelines have come at a time when the government is working very hard to issue GST refunds, especially to exporters.The government claims it has managed to refund IGST dues of more than ?21,000 crore with fewer complaints now.
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