GST Refunds: CBIC Clarifies, Says 92.68% of IGST Refund Claims are Settled
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New Delhi, October 15: The Central Board of Indirect Taxes and Customs (CBIC) issued a clarification claiming that 92.68 per cent (Rs 38,824 crore) of refund claims have been settled. The department has dismissed reports which claimed that large amount of refunds are yet to be disposed off.

The net amount which the Finance Ministry owes to the refund seekers is Rs 3,065 crores, the tax body said in its statement. Out of the stated pending amount, some have been held up due to discrepancies. GST Collection Crosses Rs 94,000 Crore in September.

In an earlier statement issued by the Finance Ministry, it said that efforts are being made continuously to clear all the dues on account of pending refund claims. Co-operation of the exporter community is solicited to ensure that they exercise due diligence while filing GSTR 1 and GSTR 3B returns as well as shipping bills.

It further said that extensive outreach programmes have been conducted along with the issuance of guidance circulars, advisories, advertisements and also an alternative procedure involving manual interface has been provided where the errors could not be corrected online.

"The efforts are beginning to show positive results. The exporting community is assured that all their eligible refund claims will be sanctioned without any delay.

Further, the export bodies are also requested to put out only verified figures in their press communication as unsubstantiated reports cause needless alarm amongst the exporters," the Ministry added.