3 Lakh exporters waiting for GST refunds, says Amit Mitra

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West Bengal Finance Minister Amit Mitra said hasty GST implementation has increased unemployment.

West Bengal Finance Minister Amit Mitra on Monday criticised the government for failing to set up a system for auto verification of GST refund claims.

Mitra said manual verification process followed in refunding of the GST claims is tedious and central government is losing crore of rupees in settling the GST refund cases.

“Approximately 3 lakh people have applied for refund and only 35-40 per cent of the cases have reached GST’s regional offices for manual verification,” Mitra said.

“The GST network (GST-N) is unable to auto-verify the refund claims. The manual verification will take a lot of time. Earlier exporters had to file form M in the process,” Mitra said.

Mitra said due to delay in the GST refund, exporters have laid off the employees for lack of capital.

“Around 60 per cent refund cases have not even reached the regional offices. The entire GST-N and the central government are responsible for this delay because GST-N works according to the rules laid down by the central government,” Mitra said.

Mitra said government is answerable to the exporters who are awaiting their refunds.

Mitra said amount of capital that is required for business is not available with the firms.

“If the exporters do not receive their refunds then it will obviously affect the working class and GDP,” Mitra said

Mitra questioned the government’s failure for not settling the GST refunds since July 1.

Why they were in hurry to introduce GST without proper system in place. Exporters are awaiting refunds since July 1,” Mitra said

Interestingly, Mitra was the member of GST council when GST was rolled out last year. He has emerged as most vocal voices against GST’s hasty implementation.

Mitra said banks are not able to provide loans to the industries.

“Currently, the problem industrialists are facing is banks are not providing loans to them,” Mitra said

Mitra said that they are planning to open to a center where information regarding the government schemes will be available

“Tomorrow, we have a meeting of SLBC (State Level Banking Committee) where we will take this matter forward,” Mitra added.

Source : https://www.indiatoday.in/india/story/3-lakh-exporters-waiting-for-gst-refunds-says-west-bengal-finance-minister-amit-mitra-1263378-2018-06-18

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