GST: Exporters to get 90% duty refund within seven days
The finance ministry has agreed to refund 90% of the duties paid by exporters in the process of manufacturing items for export within a period of seven days under the Goods and Services Tax (GST) regime.
add_main_imageThe issue was raised at a meeting of state industry ministers under the Trade Promotion and Development Council, chaired by commerce and industry minister Nirmala Sitharaman.
Commerce secretary Rita Teaotia told the state ministers that the revenue department has given an assurance that the revamped ICEGATE portal would make sure refunds are made on time. “If duty refunds could not be made within seven days, then government will pay interest to exporters. However, it is yet to be decided how much interest will be paid to exporters in such a scenario,” Teaotia said.mobAds
