TaxTMI 
TaxTMI 
Over 90 Percent Refund Claims Disposed by CBIC
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....ver 90 Percent Refund Claims Disposed by CBIC <br>GST<br>Dated:- 5-7-2019<br><BR>The Union Minster of Finance and Corporate Affairs, Nirmala Sitharaman said that during the second refund fortnight, &#....
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....8377; 6,087 crore IGST refunds and ₹ 1, 548 crore ITC refunds were sanctioned by CBIC. Presenting the Union Budget 2019-20 in Parliament today, she said that in case of IGST refunds for goods ex....
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....ported out of India, the percentage of amount of refund claims disposed by CBIC is already more than 90%. The Finance Minister further said that merchant exporters have to pay nominal GST of 0.1 perc....
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....ent for procuring goods from domestic suppliers for export. This was done in order to provide a big thrust to the growth of the export sector and resolve their working capital issues. The permanent so....
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....lution to cash blockage is e-Wallet scheme which is proposed to be launched with effect from 01.04.2020. Nirmala Sitharamanstated that e-way Bill system for inter-State movement of goods has been imp....
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....lemented from 01.04.2018. This system, for intra-State movement, has also been brought into force in a staggered manner by 16.06.2018. Till 31.05.2019 around 66.45 crore e-waybills have been generated....
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.... including 37.11 crore e-way bills for intra-State movement.<BR> News - Press release - PIB....