Equity MRK
Wednesday, June 20, 2018   
Adani Ports  366.00    (0.92%)
 
Asian Paints  1272.10    (0.27%)
 
Axis Bank  519.15    (0.46%)
 
Bajaj Auto  2873.30    (0.84%)
 
Bharti Airtel  372.25    (0.30%)
 
Coal India  270.60    (-0.92%)
 
H D F C  1846.55    (1.09%)
 
HDFC Bank  2055.70    (1.50%)
 
Hero Motocorp  3658.05    (0.07%)
 
Hind. Unilever  1602.40    (0.08%)
 
ICICI Bank  293.25    (0.43%)
 
IndusInd Bank  1967.45    (1.93%)
 
Infosys  1243.35    (-0.06%)
 
ITC  263.75    (-0.90%)
 
Kotak Mah. Ban...  1327.75    (1.58%)
 
Larsen & Toubr...  1307.05    (-0.54%)
 
M & M  902.65    (1.15%)
 
Maruti Suzuki  8947.90    (0.90%)
 
NTPC  156.80    (0.38%)
 
O N G C  162.80    (-1.24%)
 
Power Grid Cor...  199.60    (0.63%)
 
Reliance Inds.  1019.95    (2.44%)
 
St Bk of India  273.25    (0.31%)
 
Sun Pharma.Ind...  564.00    (0.70%)
 
Tata Motors  305.60    (0.31%)
 
Tata Motors-DV...  181.35    (0.50%)
 
Tata Steel  563.30    (1.52%)
 
TCS  1826.30    (0.02%)
 
Vedanta  228.75    (2.10%)
 
Wipro  259.80    (-0.71%)
 
Yes Bank  335.90    (1.66%)
 
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Extension of Special Refund Fortnight till 16 June 2018
(10:58, 13 Jun 2018)
The Government has launched the second “Special Drive Refund Fortnight” from 31.5.2018 to 14.6.2018. During the first Refund Fortnight from 15th to 29th March an amount of Rs.5350 crore was sanctioned and during this fortnight over Rs 7500 crore has been sanctioned. In view of overwhelming response from exporters and pending claims, the period of Refund fortnight is being extended by two more days i.e up to 16th June, 2018.

All exporters whose refunds have been held up on account of short payment are required to make the payment of IGST equal to short payment and follow the instructions of Circular No.12/2018-Customs dated 29.5.2018.

In IGST short payment cases, small exporters whose aggregate IGST refund amount for the period July, 2017 to March, 2018 is upto Rs. 10 Lakhs are required to submit self-certified copies of proof of payment of IGST to the concerned Customs office at the port of export. Others are required to submit a certificate from a Chartered Accountant including the proof of payment.

All GST refund claimants, whose claims are still pending, are being encouraged to approach their jurisdictional Tax Authority for disposal of their refund claims submitted on or before 30.04.2018. In case the jurisdiction (i.e. Centre or State) has not been defined for a particular claimant, he/she can approach either of the jurisdictional tax authorities.

All claimants may note the refund application in FORM GST RFD-01A will not be processed unless a copy of the application, along with all supporting documents, is submitted to the jurisdictional tax office. Mere online submission is not sufficient.

All IGST refund claimants may register on ICEGATE website, if not already done, to check their refund status. Customs field formations have been informed about the extension of the Refund Drive. Exporters are requested to make the best of this extended drive and avail of the opportunity to get the refunds sanctioned during this special drive. In case of any problem, exporters are advised to approach the Commissioner of Customs /Jurisdictional Tax Authorities. The Government is committed to clear all the remaining refund claims filed upto 30.04.2018 are still pending.

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