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Duty drawback, GST refunds of Rs 1.75 lakh crore issued to exporters in FY22: CBIC chief

Duty drawback, GST refunds of Rs 1.75 lakh crore issued to exporters in FY22: CBIC chief

By PTI  IST (Published)

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According to a senior official, the CBIC provided duty drawback and GST refunds totaling Rs 1.75 lakh billion to exporters in the fiscal year that ended in March 2022. Chairman of the Central Board of Indirect Taxes and Customs (CBIC), Vivek Johri, said the agency is working on a strategy to make e-commerce easier for gems and jewellery exports. During the Covid time, he said the department made many initiatives to expedite refunds and free up working cash for exporters, speaking at the Civil Services Day.

The CBIC has issued duty drawback and GST refunds of Rs 1.75 lakh crore to exporters in the fiscal ended March 2022, a senior official said on Wednesday. Central Board of Indirect Taxes and Customs (CBIC) Chairman Vivek Johri said the department is working on a scheme to facilitate gems and jewellery exports through e-commerce.
Speaking at the Civil Services Day, he said that the department took several steps to fast-track refunds and free up the working capital of exporters during the Covid period.
"During 2021-22, we disbursed drawback of almost Rs 24,000 crore and GST refunds of Rs 1.51 lakh crore, which is a growth of 33 percent over the previous year," he said, adding the department is "very keenly" focused on robust growth in revenue.
Referring to plans in digitisation, Johri said: "We are working on business process re-engineering applicable for customs process applicable to SEZ units. We are also working on schemes for gems and jewellery exports through e-commerce. It is already happening domestically, and we can convert it for exporters to benefit from it".
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