Exporters still waiting to receive Rs 60-bn input tax credit refunds: FIEO

Unpaid input tax credit constitutes the majority of refunds under the IGST part of the new tax regime

Technical difficulties and unwilling state tax departments have led to exporters nationwide still waiting to receive an estimated Rs 60 billion worth of input tax credit refunds.

While difficulties in the filing process continue to persist, many small and medium scale exporters are being denied tax refunds by state governments who say they are cash starved, according to apex exporters body, the Federation of Indian Exports Organisations (FIEO).

Unpaid input tax credit constitutes the majority of refunds under the Integrated Goods and Services Tax part of the new tax regime. “Almost 40 per cent of all refund seeking exporters have not been