The refund pending with the government is estimated at Rs 3,000 crore and it is unclear when businessmen will get their refunds
Refunds under Goods and Services Tax (GST) continue to haunt exporters in the state. According to estimates, the refund pending with the government is estimated at Rs 3,000 crore and it is unclear when businessmen will get their refunds.
Gujarat Chamber of Commerce and Industry, on Saturday, organised a seminar and interactive session of refunds pending under Integrated GST, where Nittin Tagade, deputy Commissioner in Customs Commissionerate in Ahmedabad guided the exporters on the common mistakes made during filing as a result of which refunds are pending. However, experts said that even if all the filing is proper then also refunds are not available.
GCCI president Shailesh Patwari said the issue has snowballed to dangerous levels. "It is difficult for exporters to honour their contracts. They can't say that they are not able to ship the goods as their refunds are pending.
The credibility of Indian exporters is at stake. If their position is weakened, exporters from China and other competing countries will fill the vaccum and the business will be gone," Patwari said.
He said it is now time that the issue is brought to the attention of Prime Minister Narendra Modi and Finance Minister Arun Jaitley. "We will write a letter to apprise them of the situation. The bottlenecks are resulting in heavy losses for local economy," he said.
He said that till a foolproof mechanism is in place, some alternative should be provided. "There should be a provision that exporters get a part of the refund on time and the rest can be settled. It is unfair to deprive exporters of their total refund when the system is still evolving," he said.
‘How will dead stock affect us?’
Farmers in the state have asked the government, about the implications of using dead stock of water in Sardar Sarovar Dam. They seek to know who will pay for the reduction in electricity generated from the dam and how it will affect water storage in monsoons.
The demand comes after Gujarat government announced that it would utilize dead stock from the Dam to meet the shortage of water.
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