News Buzz

GST Analytics wing to study supply chain

The Central Board of Indirect Taxes, which had detected several cases of firms availing credit fraudulently last year, has asked GST risk management wing to identify risky major suppliers to exporters and share it with jurisdictional field officers. The board had received representations from exporters saying in some cases the Integrated GST (IGST) refunds are getting delayed by over 6 months.

This comes in addition to other measures taken by CBIC to avert risk. It has taken steps to apply stringent risk parameters based checks, and the consignment of such exporters in risky category are subject to 100 per cent Customs examinations and their refunds were kept in abeyance. Earlier in January, it issued a standard operating procedure (SoP) to be followed by such exporters.

“The zonal Peincipal Chief Commissioners/chief commissioners of CGST and CX zones are advised to put a process in place to ensure that in future all such verifications are completed and reports sent to DGARM within maximum 3 weeks of receipt of request of verification from DGARM,” it said.