Rs 91,149 cr GST refunds issued to exporters... 93.77% of total
New Delhi: The finance ministry Monday said Rs 91,149 crore has been issued so far to exporters as GST refunds, which are 93.77 per cent of total claims with the tax authorities. In a statement, the ministry said Rs 6,053 crore worth GST refund is still pending with the government and that is being "expeditiously processed".
"Total GST refunds to the tune of Rs 91,149 crore have been disposed by CBIC and state authorities out of the total refund claims of Rs 97,202 crore received so far. Thus, the disposal rate of 93.77 per cent has been achieved," the ministry said.
Giving break-up for the refund figures, the ministry said that Rs 48,455 crore of IGST refunds have been disposed of as on November 28, which is 95 per cent of the total such claims. As much as Rs 2,473 crore worth of IGST refund claims are held up on account of "various deficiencies" which have been communicated to exporters for remedial action.
With regard to refund of input tax credit claims, the ministry said of the total claims of Rs 46,274 crore, the pendency as on December 3 stood at Rs 3,580 crore. "Provisional/final order has been issued in case of (ITC) refunds amounting to Rs 37,406 crore. In claims amounting to Rs 5,288 crore, deficiency memos have been issued by respective GST authorities," the statement said.
The ministry said pending GST refund claims amounting to Rs 6,053 crore are being expeditiously processed so as to provide relief to eligible claimants. "Refund claims without any deficiency are being cleared expeditiously," it added.
Efforts are being made continuously to clear all the pending refund claims, where ever requisite information is provided and found eligible, it said. "Co-operation of the exporter community is solicited to ensure that they respond to the deficiency memos and errors communicated by Centre and State GST as well as Customs Authorities and also exercise due diligence while filing GSTR 1 and GSTR 3B returns as well as Shipping Bills," the statement added.
Figures released by the Government on Saturday showed that GST collections in November dropped to Rs 97,637 crore, lower than Rs 1 lakh crore collected previous month. The total number of GSTR 3B returns filed for October up to November 30, 2018, is 69.6 lakh, the finance ministry said in a statement. Compensation released to states for August-September stood at Rs 11,922 crore.
Of the Rs 97,637 crore collected, central GST (CGST) collection is Rs 16,812 crore, state GST (SGST) is Rs 23,070 crore, integrated GST (IGST) is Rs 49,726 crore (including Rs 24,133 crore collected on imports) and cess is Rs 8,031 crore (including Rs 842 crore collected on imports).
The government has settled Rs 18,262 crore to CGST and Rs 15,704 crore to SGST from IGST as regular settlement. The total revenue earned by central government and the state governments after regular settlement in November 2018 is Rs 35,073 crore for CGST and Rs 38,774 crore for SGST, the ministry added.