Articles

GST UPDATE

by Manish Anil Gupta best ca firm in delhi

"CBIC extends the time-limit for sanction of IGST refunds where the records are not transmitted."

The MoF vide Press Release dated February 22, 2021, has clarified that the time limit for sanctioning of pending IGST refunds stands extended till March 31, 2021, for the cases where record have not been transferred to the ICEGATE due to return GSTR 1 and GSTR 3B mismatch. Further, it was provided that such facilitation will overcome the refund blockage problem by allowing refunds subject to post refund audit scrutiny and undertakings of CA certificates by the exporters.

Additionally, CBIC has also extended the facility for resolving the invoice mismatch errors through the Customs Officer interface permanently. Earlier, this facility was provided in respect of shipping bills filed upto December 31, 2019. The exporter may now avail the facility of correction of invoice mismatch errors concerning all the past shipping bills, irrespective of its date of filing subject to payment of prescribed fees.