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, 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.
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.
