Only July IGST refund received so far: FIEO
Exporters in India have been crying foul ever since the GST rollout— the industry body claims that they have received refunds only for merchandise exports made in July. Not just that, exporters also say that refund for input tax credit, which accounts for bulk of the money they are supposed to receive, has not been paid at all. All this, the industry says, has led to a working capital hit of approximately Rs 50000 crore. CNBC-TV18 caught up with Ajay Sahai Director General and CEO of Federation of Indian Export Organization.
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