Revenue department promises to refund tax to exporters under GST: Nirmala Sitharaman

Commerce and Industry Ministry has said that the Department of Revenue has promised to refund tax claims of exporters within seven days under the new GST regime. Addressing a press conference after the 2nd meeting of the Council for trade development and promotion in New Delhi yesterday, Commerce and Industry Minister Nirmala Sitharaman said, she had raised the issues of exporters in the GST Council meeting. 

She also said, that exporters will get interest on the refund if it



is delayed beyond two weeks. Ms Sitharaman said, she has also suggested to the GST Council to exempt leather and plantations sector from the GST ambit.

The Minister said, exporters have been demanding ab-initio exemption from payment of taxes under the Goods and Services Tax (GST) regime arguing that delay in refunds often takes months and also results in blocking the working capital. They also stated that exports need to be encouraged in view of the global slowdown.