NEW DELHI: Exporters of goods and services as well as suppliers to SEZ units are likely to get GST refunds automatically from June as the revenue department plans to introduce faceless scrutiny of refunds and faster claim settlement, an official said. Under GST, every person making a claim of refund on account of 'zero-rated' supplies has two options.
Exporters of goods and services as well as suppliers to the Special Economic Zone (SEZ) units are likely to get Goods and Services Tax (GST) refunds automatically from June 2019 as the revenue department prepares to introduce faceless scrutiny of refunds and faster claim settlement, reports Economic Times.
EEPC has asked RBI for carving out an exporter-friendly interest rate structure for exporters.
The rupee opened at 70.43 at the interbank forex market, displaying gains of 9 paise over its last close.
The Trade Receivable Discounting System (TreDS), an online bill discounting platform that helps cash-starved micro, small and medium enterprises (MSMEs) raise funds by selling their trade receivables to corporates, has been witnessing phenomenal growth over the last two years.
New Delhi: In a major relief to exporters, the Central Board of Indirect Taxes & Customs (CBIC) has decided to process the input tax credit (ITC) claims online, which will reduce the ITCNSE 1.28 % settlement time from a few months now to a fortnight and also clear the clogged working capital fast.