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'Centre working on mechanism to speed up GST refund for exporters'
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SME Times News Bureau | 16 Oct, 2017
The central government is working on mechanisms to further speed up the
GST refund process for exporters, a minister said on Sunday.
"We
are evolving a mechanism. We are trying to further reduce time for
refunds," Minister of State for Commerce & Industry C.R. Chaudhary
told the media in New Delhi on the sidelines of the inaugural session of the
186th AGM of the Calcutta Chamber of Commerce.
In a relief to
exporters, the government recently announced that it would immediately
refund exporters for the month of July and August through cheques from
October 10 and October 18, respectively.
Following a GST Council
meeting, Union Finance Minister Arun Jaitley told reporters that this
would be an interim relief, and as a long term measure e-wallets will be
created for all exporters by April 1, 2018, to carry forward the refund
process.
Chaudhary said large scale reforms like GST will often
lead to hiccups and inconvenience during inception but it will be
beneficial in the long run.
"Rise in export data for September shows that initial hiccups of GST roll out is stabilising," he added.
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