Blockage of Working Capital of Exporters
taxgrid
September 23, 2017
Blockage of Working Capital of Exporters2017-09-23T12:21:23+05:30
GST News, official clarifications
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Ministry of Finance makes clarifies that the apprehension being expressed regarding the blockage of working capital for exporters in GST regime and media reports relating to this are not based on facts. In the Press release made by Ministry of finance, the explanation is given as to how 66% value of exports, exporters have preferred the duty drawback scheme instead of taking an actual refund of input taxes in the pre-GST regime.
Also, it has been clarified that the speculations regarding the availability of refund for inputs in case of exports only when regular form GSTR-3B has been filed, is not correct. Efforts are being made to give the refunds by linking GSTR-1 with form GSTR3B.
Read the press release below:
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