FIEO had earlier this week said Rs 220 billion GST refunds are pending with the government, which is creating liquidity problems for exporters
Initially, only purchases made by tourists from big retailers would be eligible for GST refunds at the airports
About Rs 140 billion of refunds of exporters were stuck due to various mismatches
About Rs 28 billion worth eligible refunds are pending which will also be cleared soon
PMO to meet with Commerce, Finance ministry officials on Monday to brainstorm issue as refund claims pile up
Overall, the Foreign Trade Policy review sends a signal about the government's commitment to promote exports
Exporters asked to ensure claims don't exceed monthly amount paid under GST