The government has issued GST refunds to the tune of Rs.91,149 crore to exporters, with around Rs.6,053 crore worth of refunds still to be paid. According to a report by Livemint, 93.77 per cent of the total refund claims have been honoured so far.
The Central Board of Indirect Taxes and Customs (CBIC) and various state authorities have handled the refunds. A total of Rs.48,455 crore were deposited as of November 28.
The government is currently processing the remaining sum, of which around Rs.2,473 crore worth of refunds have been delayed due to “various deficiencies” (as per a report by Moneycontrol).
With respect to input tax credit refund claims, the government has issued refunds to the tune of Rs.37,406 crore, with a sum of Rs.3,580 crore pending as of December 3.
Sources: Moneycontrol, Livemint