CBIC extends deadline for sanction of pending IGST refunds to March 31
By TIOL News Service
NEW DELHI, FEB 22, 2021: THE Central Board of Indirect Taxes and Customs (CBIC) has extended the time limit for sanction of pending Integrated Goods and Services Tax (IGST) refunds to March 31 for certain circumstances, said the Finance Ministry on Monday.
In cases where records have not been transmitted to the IceGate portal due to GSTR1 and GSTR3B mismatch error, the CBIC has granted the extension on all shipping bills filed up to March 31, 2021.
"This overcomes the problem of refund blockage by allowing refunds subject to undertakings/submission of Chartered Accountant (CA) certificates by the exporters and post refund audit scrutiny," explained the ministry.
The CBIC has also extended the facility for resolving invoice mismatch errors, classified as SB-005 error, through customs officer interface on permanent basis. Earlier this facility was provided for a limited period only for shipping bills filed up to December 31, 2019.
The exporter may avail the facility of correction of invoice mis-match errors of all past shipping bills, irrespective of its date of filing, subject to the payment of a nominal fee.
Both circulars resolving the issues faced by exporters in getting their IGST refund sanctioned, were circulated last week by the CBIC.
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