Is Your Export Refund Stuck due to Mismatch between GSTR-1 and GSTR-3B? Here is Big Relief Provided by the CBIC
The Central Board of Indirect Taxes & Customs (CBIC) has issued Circular No. 04/2021-Customs dated 16th February 2021 regarding extension of IGST Refund Circular for records not transmitted due to GSTR1 & GSTR3B mismatch error up-to 31.03.2021.
We understand that, refunds of several exporters have been stuck due to mis match data between GSTR-1 & GSTR3B.
Though CBIC had issued circular No. 12/2018-Customs dated 29.05.2018 and Circular No. 25/2019 dated 27.08.2019 for shipping bills up-to 31.03.2019. However, It is understood that there has been several errors even after the date and many refunds are pending on account of this.
Thus taking cognizance of the issues faced, CBIC has decided to provide the solution as per Circular No. 12 & 25 for shipping bills filed for financial year 2019-20 and 2020-21 (i.e all shipping bills filed/to be filed up-to 31.03.2021).
Thus, exporters must follow the guidelines as per Para 3A & 3B of the Circular No. 12/2018-Customs dated 29.05.2018 and submit necessary CA Certificate for the same. The CA Certificate for the period April 2019 to March 2020 must be furnished by 31st March 2021 and for April 2020 to March 2021 must be submitted by 30th October 2021.
Taxpayers are requested to take note of this extension and do the needful accordingly. For further details, you may download Circular No. 04/2021- Customs and 12/2018- Customs by clicking on the links below.
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