Equity MRK
Monday, August 20, 2018 2:41:00 PM  
Adani Ports  378.30    (1.16%)
Asian Paints  1412.40    (0.90%)
Axis Bank  623.25    (-0.61%)
Bajaj Auto  2733.55    (2.73%)
Bharti Airtel  372.10    (0.23%)
Coal India  283.30    (0.75%)
H D F C  1919.05    (1.88%)
HDFC Bank  2101.30    (1.16%)
Hero Motocorp  3321.90    (2.26%)
Hind. Unilever  1778.00    (-0.16%)
ICICI Bank  338.40    (-0.49%)
IndusInd Bank  1993.60    (0.20%)
Infosys  1388.70    (-2.98%)
ITC  313.85    (0.03%)
Kotak Mah. Ban...  1275.50    (0.99%)
Larsen & Toubr...  1325.00    (6.83%)
M & M  971.50    (1.09%)
Maruti Suzuki  9094.55    (-0.59%)
NTPC  159.15    (0.76%)
O N G C  168.05    (3.03%)
Power Grid Cor...  188.00    (0.43%)
Reliance Inds.  1233.70    (2.51%)
St Bk of India  305.05    (1.01%)
Sun Pharma.Ind...  626.45    (0.51%)
Tata Motors  269.70    (4.80%)
Tata Motors-DV...  143.10    (5.22%)
Tata Steel  596.00    (2.65%)
TCS  2011.10    (-0.04%)
Vedanta  220.60    (2.60%)
Wipro  285.50    (2.11%)
Yes Bank  395.60    (0.67%)
Market Menu
plusminDaily Market Tracker
Corporate Information
Corporate Actions
Other Markets
You are here : Equity | News | Economy News
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.

Powered by Capital Market - Live News