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.
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.
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.
The Finance Ministry has extended the deadline for filing summary sales return for April in 14 districts of Odisha affected by cyclone Fani by a month till June 20.
The rupee opened at 70.43 at the interbank forex market, displaying gains of 9 paise over its last close.