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No let-up in sanction of GST refunds: FinMin
New Delhi, Nov 8 (IANS) Allaying fears of growing pendency of Goods and Services Tax (GST) refunds, the government on Thursday said more than 93 per cent of the claims have been sanctioned by October-end and the disposal rate is consistently improving.
“Concerns are being raised about growing pendency of GST refunds. Exporters are reassured that there is no let-up in the sanction of GST refunds. The disposal rate is consistently improving month-on-month,” the Finance Ministry said in a statement.
GST refunds to the tune of Rs 82,775 crore were disposed of by the Central Board of Indirect Taxes and Customs (CBIC) and state authorities out of the total refund claims of Rs 88,175 crore received so far, as on October 31.
“Thus, the disposal rate of 93.8 per cent has been achieved as on October 31, 2018,” it said.
The Ministry said pending refund claims amounting to Rs 5,400 crore are being expeditiously processed, so as to provide relief to eligible exporters. Refund claims without any deficiencies are being cleared efficiently, it said.
In case of integrated GST (IGST) refunds, 93.27 per cent or Rs 42,935 crore of the total IGST refund claims of Rs 46,032 crore transmitted to Customs from GSTN have been disposed of.
“The remaining claims amounting to Rs 3,096 crores are held up on account of various deficiencies which have been communicated to exporters for remedial action,” it said.
Further, in case of Input Tax Credit (ITC) refund claims, out of the total Rs 42,145 crore, the pendency as on October 31 is Rs 159 crore with the Centre and Rs 2,146 crore with states.
Provisional or final order has been issued in case of refunds amounting to Rs 34,602 crore. In claims amounting to Rs 5,239 crore, deficiency memos have been issued by respective GST authorities, it said.
The Ministry added efforts are being made continuously to clear all the pending refund claims, where ever requisite information is provided and found eligible.
It sought co-operation of the exporter community 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 returns and shipping bills.
–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.