Lack of GST auto verification system has hurt exports

first_imgKolkata: State Finance minister Amit Mitra said that overall exports from the country has gone down due to the non-implementation of auto verification system in the sphere of GST network introduced by the Centre.While addressing the media on the sidelines of a workshop on the promotion of exports at a city hotel on Monday, Mitra said that the exports are not getting refunds, which in turn is affecting the working capital of various small-scale exporters across the country. Also Read – Heavy rain hits traffic, flightsNearly one year after the GST was introduced in the country, the Centre is yet to come up with an auto verification system, through which the exporters can upload various information and submit their taxes. In reality, they have to do all the processes manually.Other than submitting application and closure, no other activities are done online. The small-scale exporters have been greatly affected.”Around 3 lakh applications from across the country have been filed by the exporters, seeking refunds worth Rs 25,000 crore from the GST council. But they are yet to get any refund. It has not only been affecting the working capital of the small-scale exporters, but also leading to a sharp dip in the overall exports from the country,” Mitra said. Also Read – Speeding Jaguar crashes into Merc, 2 B’deshi bystanders killedEarlier, before the introduction of GST, the exporters had to fill up a form called ‘M’ but now the Centre is receiving taxes from the exporters with a promise that they would be refunded with the money paid in excess. But the Centre has stopped the refunds, thereby affecting the working capital of these small-scale exporters, which is also having a huge impact on employment generation.This is despite the fact that Bengal has done significant improvement by increasing the growth rate in exports in the last two years, Mitra reminded.Before the introduction of the GST, the Centre had promised that all the procedures would be done online, but all the verifications are now performed manually due to the want of an auto verification system.The Finance minister also said that the state government would take up the issue with the GST council, so that it could be resolved.”We would take up the issue with the Centre on behalf of the exporters from the state, who are not getting their refunds after paying taxes due to due a lack of auto verification system in the GST network. This has an adverse effect on the overall exports from the state,” Mitra maintained.last_img

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