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The Ministry of Finance vide Press Release dated 22 February 2021 has clarified that the time limit for sanction of pending IGST refunds stands extended till 31 March 2021, in such cases where records have not been transmitted to ICEGATE due to GSTR1 and GSTR3B mismatch. The Ministry of Finance further provided that such facilitation overcomes the problem of refund blockage by allowing refunds subject to post refund audit scrutiny and undertakings of CA certificates by the exporters.
It has been further provided that the CBIC has also extended the facility for resolving invoice mismatch errors through customs officer interface on permanent basis. Earlier this facility was provided for a limited period i.e. in respect of shipping bills filed up to 31.12.2019. The exporter may now avail the facility of correction of Invoice mis-match errors in respect of all past shipping bills, irrespective of its date of filing subject to payment of prescribed fees.
The information provided in this update is intended for informational purposes only and does not constitute legal opinion or advice. Readers are requested to seek formal legal advice prior to acting upon any of the information provided herein. This update is not intended to address the circumstances of any particular individual or corporate body. There can be no assurance that the judicial/ quasi judicial authorities may not take a position contrary to the views mentioned hereinrra quis.
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