As the number of Risky Exporters who are not traceable increased to a number to 1,474 who claimed around Rs.2,020 Crores of Integrated Goods and Services Tax refunds (IGST), the Govt. is planning to take stern actions on these exporters says some finance ministry officials.

The officials also said that these 1,474 risky exporters include 7 Star Exporters who have taken a large part of the amount of IGST refunds by themselves only, and in there cases the IGST refunds have already got suspended.

Usually, these Risky Exporters have a habit of paying the IGST amount even at the highest rate of 28% so that they claim the unused Input Tax Credit (ITC) amount and quickly en-cash them.

Among the 1,474 Risky Exporters, the 1,125 exporters number mainly belong to Delhi then succeeded by Surat, Thane, Faridabad and Kolkata and they have to say that they were exporting ball bearings, roller bearings, mobile phones, ready-made garments, footwear, wallpaper, wall coverings, floor coverings, lethal apparel, smoking pipes and cigarette holders.

Despite these Risky Exporters problems, the Customs Officials are sensitive to assist the Genuine Exporters with the Refunds proceedings in this Covid-19 period. The officials said that “More than Rs.1.37 Lakh Crores refund amount has already been distributed to the exporters and around Rs.2,026 Crores amount is only pending.

The data analytics system of CBIC is based covering the 360-degree profiling of the exporters by using multiple data sources and was implemented to remove the fraudulent exporters from the genuine ones with achieving a high degree of success on it.

With Warm Regards,

CL Bureau.

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