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Exporters claim Rs 6,500 cr IGST refund for July-October
New Delhi, Nov 29 (IANS) Indian exporters have claimed refunds worth Rs 6,500 crore in the first four months of implementing the Goods and Services Tax (GST), an official statement said on Wednesday.
Giving this information, the government also asked exporters to file claims in the proper format with matching shipping bills to facilitate early refund of the Integrated GST (IGST) paid.
“It is clarified that the quantum of IGST refund claims as filed through shipping bills during the period July to October, is approximately Rs 6,500 crore and the quantum of refund of unutilised credit on inputs or input services, as per the RFD-01A applications filed on GSTN portal, is to the tune of Rs 30 crore,” a Finance Ministry release said here.
The Ministry also said that businesses can upload the final sales returns for August in GSTR-1 on the GST Network (GSTN) portal from December 4.
Of the IGST paid on goods exported, a majority of refund claims for exports made in July have already been sanctioned, the statement said.
“Refund claims of IGST paid for exports made in August, September and October 2017 are being sanctioned seamlessly wherever returns have been accurately filed,” it said.
The Ministry also asked exporters to file GSTR-3B and Table 6A of GSTR-1 on the GSTN portal and the shipping bills on the Customs EDI System.
“It has been observed that certain common errors such as incorrect shipping bill number in GSTR1, mis-match of invoice number and IGST amount paid, wrong bank account etc. are being committed by exporters while filing their returns,” it said.
“These errors are the sole reason for delay in grant of refunds, or rejection,” it added.
Exporters can also contact jurisdictional customs authorities to check errors in filing GST returns and shipping bills and rectify them at the earliest, the statement said.
“Exporters may take due precaution to ensure that no errors creep in while filing Table 6A of GSTR 1 of August 2017 and onwards,” it said.
In case exporters have committed errors in filling up July claim forms, they can make changes by filling up Table-9 of GSTR-1 of August returns, it added.
For claiming input tax credit (ITC), exporters will have to ensure that all the necessary documents are submitted along with the Form RFD-01A for timely sanction of refund.
“Exporters are advised to immediately file Table 6A and GSTR-3B, for processing of IGST refund; RFD-01A on GSTN portal for refund of the unutilised ITC on inputs or input services used in making exports; and GSTR-1 for August 2017 for amending details provided in July GSTR-1,” the ministry said.
–IANS
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Dr. Abhishek Verma Dedicates a Shelter in Memory of His Mother, Veena Verma, at KGMU; Inaugurated by Daughter Nicolle Verma
World-renowned business tycoon Dr. Abhishek Verma has supported Foodman Vishal Singh’s Hunger-Free World mission. In memory of his mother, Late Veena Verma, who was a 3 term Rajya Sabha MP.
Dr. Verma dedicated a state-of-the-art free permanent shelter for the attendants of patients at KGMU Medical University, Lucknow, under the aegis of Vijay Shree Foundation. His daughter, Nicolle Verma, inaugurated the shelter.
During the event, Foodman Vishal Singh honored Nicolle Verma by presenting her with a memento. Mrs. Nidhi Sharma and Avantika Yadav, associated with the organization, welcomed her with garlands. Following this, Nicolle Verma distributed essential items to the attendants and also handed out fruits. She became emotional remembering her grandmother on her birth anniversary.
On this occasion, she also inaugurated the “Veena Verma Sevalaya” in memory of her grandmother, Veena Verma, to serve the attendants. She expressed, “I feel proud that my family is engaged in nation-building as well as social service. Today, in collaboration with Vijay Shree Foundation founder Foodman Vishal Singh Ji, I feel immensely proud to dedicate this shelter for the poor, helpless, and needy attendants of patients battling serious illnesses like cancer. I am honored to be associated with the Hunger-Free World Mission for humanity.”
Inspired by the continuous humanitarian service provided by Vijay Shree Foundation over the past 17 years, Nicolle Verma donated 10 lakh rupees to support the cause. The purpose of this donation is to ensure that services continue for the needy attendants of patients suffering from severe illnesses in hospitals, as facilitated by Foodman Vishal Singh.
It is noteworthy that Dr. Abhishek Verma’s family has a legacy of public and philanthropic service. They are helping millions to carry forward the values and service work of their parents. On the occasion of his mother’s birth anniversary, Dr. Abhishek Verma dedicated this state-of-the-art permanent shelter at Lucknow Medical College to serve the attendants of patients through the Vijay Shree Foundation.
Supporting Foodman Vishal Singh’s Hunger-Free World mission, Dr. Abhishek Verma assured that he would continually support keeping this flame of humanity alive. He also promised to assist in providing medicines to the helpless patients.
Continuing her grandmother’s legacy of service, Nicolle Verma personally served food to the needy patients and attendants. She said, “It is our good fortune to have received the joy of doing this noble work today through Foodman Vishal Singh. I have taken another step forward in carrying my family’s values and cooperation by joining hands with the Vijay Shree Foundation. My father taught me to serve and help the needy, and I feel happy when I bring a smile to someone’s face.”
On the birth anniversary of the late Veena Verma, the event organizer, Vijay Shree Foundation founder Foodman Vishal Singh, said, “We feel proud and happy that Dr. Abhishek Verma, a globally renowned business tycoon, has extended his support to uplift our country from the hunger index. Today, on his mother’s birth anniversary, he inaugurated a state-of-the-art permanent shelter at Lucknow Medical College, which will always be helpful for the needy attendants of patients. It is a pleasure for me and the organization to receive the affection of Mr. Verma.”
The event was attended by General Manager Verma Family Office Hemant Garg, Sonu Rajput, and the organization’s volunteers, including Sandeep Singh, Parmeshwar Ji, Prashant Rao Gautam, Balram Singh, Ramesh Chaudhary, Suman, Jeetu, Anil, Suraj, Vinay, Manish Bhadauria, Manas Mehrotra, Vivek, Apurv, Happy, and others.