Justification by Ministry of Finance on Blockage of Working Capital of Exporters.
Summary :
√ 66% value of exports, exporters have preferred the duty drawback scheme instead of taking actual refund of input taxes in the pre-GST regime. This means that as of now, for 66% of the value of exports, there is no blockage of funds.
√ For remaining 33% under old tax regime there used to be a normal blockage of funds for a period of 5 – 6 months at least except for those using facility of advance authorisation.
√ Trying to find a way of giving refund by linking form GSTR 1 with form GSTR 3B.
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