Source: ETRetail.com, Aug 25, 2019
NEW DELHI: The Central Board of Indirect Taxes and Customs is finalising ways to speed up the refund of Rs 4,000-5,000 crore to micro, small and medium enterprises as finance minister Nirmala Sitharaman gets down to making the entire GST refund process seamless for businesses.
On Friday, Sitharaman had announced that all pending refunds of MSMEs will be cleared over the next 30 days and going forward, no dues will be pending for more than 60 days. On Sunday, she is due to brainstorm with officials from CBIC as well as GST Network, the company that provides the IT backbone, for working out an efficient refund mechanism. Read the rest of this entry »