Technical glitches on the Goods and Services Tax Network (GSTN) continued to give nightmares to exporters with refunds of over Rs 20,000 crore stuck, pushing them into a cash-flow quagmire. The government has cleared refunds of around Rs 17,616 crore to exporters till March. "When they can refund Rs 7,000 crore from March 15 to March 31, why could they not keep the same pace in April and May? Gupta said the issue was being faced by exporters than the local trading exporters, whose input credit tax (ITC) were offsetting the output debit. FIEO's Gupta said the only solution to the GSTN technical snag was to further simplify forms for refund claims.

Source: dna May 27, 2018 23:37 UTC