The finance ministry on Friday dismissed as “exaggerated” and “inaccurate” exporters’ contention that about Rs 23,000 crore of goods and services tax-related refund claims are stuck with the government.

“A large number of exporters have been granted refunds so far while a few claims are still pending owing to deficiencies found in the claims,” the ministry said in a statement a day after exporters again raised refunds issues. 

The Federation of Indian Export Organisations (FIEO) had claimed that input tax credit (ITC) refund worth Rs 15,000 crore and at least Rs 8,000 crore of integrated GST refunds are stuck with the government.

“These figures being put out in the public domain are exaggerated and thus inaccurate,” the finance ministry said in a statement even as it assured exporters of expeditious refunds. 

About 92.68% (Rs 38,824 crore) of the total IGST refund claims (Rs 41,889 crore) transmitted to customs from GSTN as on date have already been disposed, it said. 

“The remaining claims amounting to Rs 3,065 crore are held up on account of various deficiencies which have been communicated to exporters for remedial action.”

In case of RFD-01A (ITC refund) claims with the Centre and states, the pendency as on date is only Rs 2,077 crore, it said. Out of the refund claims of Rs 39,372 crore received, provisional/final order has been issued in case of refunds amounting to Rs 32,345 crore   #CASANSAAR  (Source- The Economictimes)