EXPORT REFUND CLAIMS
GST reforms to boost global capability centres' growth in India: Report
The GST reforms will directly bolster global capability centres' (GCCs) operations in India -- not just with tax adjustments but also helping them with enhanced global competitiveness, cost structures and cash flows, according to the report by Grant Thornton Bharat.
Pharma sector hails GST cut as a landmark move toward affordable healthcare
GST rates on 33 life-saving drugs have been reduced to zero, while rates on other medicines and diagnostics have been cut to 5%. The industry welcomes the reform as a major relief for patients.
If Trump's biggest tariffs get thrown out, companies could get a refund - but not consumers
President Trump's imposition of tariffs under the International Emergency Economic Powers Act is facing legal challenges, with courts ruling he overstepped his authority. This could lead to the government refunding billions of dollars in collected tariffs to importers. The Supreme Court is now being asked to intervene, potentially impacting trade revenue and raising concerns about economic repercussions.
GST Council approves faster export refunds for claims below ₹1,000
The measures will improve the liquidity condition of exporters amid the US imposing 50% tariffs on India. The US decision would impact around $48.2 billion of outbound shipments based on 2024 trade values. The GST Council recommended an amendment to the rules to provide for sanction of 90% of refund claimed as provisional refund "on the basis of identification and evaluation of risk by the system", the council said in a statement.
Govt delivers 'GST Diwali bonanza': Cheaper essentials, big relief on insurance premiums
India's Goods and Services Tax (GST) undergoes a major overhaul, eight years after its launch, with the GST Council approving significant rate cuts on numerous everyday items. Effective September 22nd, the new rates aim to boost consumption by shifting to a two-slab structure of 5% and 18%, abolishing the 12% and 28% rates.
GST 2.0: What’s next for businesses and what can India Inc do?
The GST Council's recent announcements focus on rate consolidation, trade facilitation, and improved consumer ease. Rate reductions on B2C products aim to boost affordability, while input rate cuts for solar, textiles, and fertilizers correct inverted duty structures. The removal of the 'intermediary' provision simplifies export regulations.
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GST Council okays fast registration for non-risky businesses, seven-day refund window
The GST Council is likely to approve reforms aimed at easing compliance for small businesses, including faster registration and refunds. Amendments to the place of supply definition will benefit Global Capacity Centres and ITES, while rate rationalization discussions continue. The council also addressed post-sales discounts and appellate tribunal issues, focusing on reducing litigation and supporting small taxpayers and exporters.
Trump tariffs ruled 'illegal' by court: What happened, why it matters, and what comes next as POTUS calls it 'total disaster'
Trump Tariffs News: A federal appeals court has ruled that many of President Trump's global tariffs were illegally issued, challenging his economic agenda and raising questions about presidential power. The court found Trump exceeded his authority under the International Emergency Economic Powers Act.
Pharmaceutical industry seeks relief from rate inversion
The pharmaceutical industry in India anticipates potential relief from Goods and Services Tax inversion. Discussions between companies and the government suggest a favourable resolution within upcoming GST reforms. The current tax structure creates working capital issues, especially for MSMEs. Delayed refunds force MSMEs to take loans. Exporters face strain paying upfront taxes on APIs.
What happens to Trump's tariffs now that a federal appeals court has knocked them down?
A federal appeals court has challenged President Trump's authority to unilaterally impose sweeping tariffs on foreign products by declaring national emergencies. The court's ruling limits Trump's ability to bypass Congress in trade policy, potentially impacting his negotiating strategy and raising concerns about financial repercussions for the U.S. Treasury. Trump vows to fight the decision in the Supreme Court.
GSTN has done this change in GST portal for hassle free tax refund claims
New GSTN Advisory: The GSTN has enhanced the GST portal, effective August 28, 2025, to streamline GST refund claims. Taxpayers can now claim refunds even with positive or zero cumulative balances, provided a minor head shows a negative balance. This change addresses previous restrictions, unlocking capital for businesses and simplifying the refund process. Read more.
Pharmexcil seeks aligning GST rates on formulations, APIs
Pharmexcil urges GST rate alignment for active pharmaceutical ingredients and formulations. Current tax differences create financial strain. Equal rates would simplify compliance and benefit patients. A two-rate GST structure is proposed. This includes 5% and 18% rates. A special 40% rate is for luxury items. The move aims to streamline healthcare costs. It also seeks to improve efficiency for businesses.
50% tariffs: Here’s how India can flip the script on Trump’s trade offensive
India is preparing to counter the impact of Trump’s 50% tariff through alternative markets and dedicated fund support, as key sectors such as textiles, gems & jewellery, and shrimp brace for the impact.
What happens next in the US court battle over Trump's tariffs?
A federal appeals panel has expressed doubt over Donald Trump's use of a 1977 law to impose tariffs, a move challenged by states and businesses. The case, questioning presidential authority over tariffs, is likely headed to the Supreme Court. A ruling against Trump could impact his trade policies and potentially lead to importers seeking tariff refunds.
TCS axes 12,000 jobs; Ola loses steam in EV race
Happy Monday! India’s largest software exporter is trimming 2% of its workforce as demand woes persist. This and more in today’s ETtech Morning Dispatch.
Govt identifies 5,106 'risky exporters' who have fraudulently claimed GST refunds
The CBIC assured genuine exporters that their refund claims would be processed in an automated environment and issued in a timely manner.
Bogus IGST refund claims: Government to verify exporters' claims before sanctioning
Tax experts said the move to verify the refund claims would delay the process of refund issuances to exporters.
Automated GST refund for exporters by next month
Currently, the facility of automatic refund is available only for those exporters who have paid Integrated Goods and Services Tax (IGST) while exporting goods
GST refunds of Rs 82,775 cr to exporters cleared; Rs 5,400 cr pending as on Oct 31
Rs 42,935 crore of IGST refunds have been disposed of as on October 31, which is 93.27 per cent of the total such claims.
Finance ministry rubbishes charge of stuck GST claims worth Rs 23,000 crore
FIEO had claimed that input tax credit (ITC) refund worth Rs 15,000 crore and at least Rs 8,000 crore of integrated GST refunds are stuck with the government.
CBIC to organise third edition of GST refund fortnight from July 16-30
In case of IGST refunds for goods exported out of India, the percentage of amount of refund claims disposed by CBIC is lready more than 90 per cent.
Government refutes exporters’ claim on pending GST refunds
Government has asked those with pending refunds to approach their jurisdictional tax authority for disposal of any of their refund claims submitted on or before April 30 which are still pending.
CBEC sanctions Rs 12,700 crore GST refund claims
The Central Board of Excise and Customs (CBEC) had organised refund facilitation camps in field offices between March 15-31 to assist exporters in filling up refund claim forms and correct errors.
Exporters claim Rs 6,500 crore refund for July-October: Finance Ministry
The CBEC had last month started refunds for exporters of goods who have paid Integrated GST (IGST) and have claimed refund based on shipping bill by filling up Table 6A.
Exporters can manually file GST refund claims: CBEC
The CBEC had last month started refunds for exporters of goods who have paid Integrated GST (IGST) and have claimed refund based on shipping bill by filling up Table 6A.
New norms fall short: Exporters
The new, easier rules to claim service tax refunds announced on Thursday were still falling short, say exporters, who have Rs 2,000 crore pending with the finance ministry.
Faster service tax refunds on cards
Service tax refunds for exporters are set to become easier and speedier with government likely to do away with some procedural requirements that delay issue of refunds to exporters.
MoF, commerce dept clash on tax refund to exporters
The finance and commerce ministries have locked horns yet again on the issue of reimbursement of service tax to exporters.
Exporters can get tax refunds in a month
Exporters can now get their service tax refunds much faster thanks to simpler norms.
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