Mumbai: Mumbai customs zone today said it has disbursed Rs 2,090 crore of IGST refunds to exporters in the first 10 days of the special refund drive.
Central Board of Indirect Tax and Customs (CBIC) is observing an ‘export refund fortnight’ from May 31 to June 14 to expedite the disposal of all IGST export refunds.
“As far as Mumbai customs zone is concerned, we have disbursed IGST refunds of Rs 6,467 crore, since the inception of GST. Of this, we were able to disburse Rs 1,181 crore in the refund drive observed in March this year,” Mumbai’s chief commissioner of customs, Rajiv Tandon, said today.
In the current fortnight, the Mumbai zone has already disbursed Rs 2,090 crore in the first 10 days, chief commissioner of customs (zone-II) Vivek Johri said.
For the Mumbai zone, roughly Rs 1,400 crore worth of IGST refund is left, according to him.
“We want to have a zero pendency across all section as far as IGST refund is concerned,” Tandon added.
IGST refunds are sanctioned based on electronic validation of data declared in the shipping bill with that declared in the GST returns as well as the internal consistency of data submitted in these documents.