A. GST Refunds
1. Instructions to all commissioners ; Pending GST refunds including IGST refunds shall be expeditiously processed.
2. The decision to process pending refund claims has been taken with a view to provide immediate relief to the taxpayers in these covid crisis , even though the GST Law provides 15 days for issuing acknowledgement or deficiency memo and total 60 days for disposing off refund claims without any liability to pay interest, all pending refund applications must be taken up for processing immediately.
3. Due diligence may be done before granting the refunds on merits, considering all the relevant legal provisions and circulars.
4. To dispose off all the pending refund claims by 30th April 2020.
B. Customs Clearance
1. It is accordingly directed that in accordance with the said Trade Notice, the import consignments, where a preferential treatment of goods under a Free Trade Agreement has been claimed but the original hard copy of Certificate of Origin [CoO] has not been submitted or only digitally signed copy or unsigned copy of CoO is submitted, may be assessed and cleared provisionally in terms of section 18 of the Customs Act, 1962.
2. The final assessment may be done subsequently on submission of the original COO certificate by the importer.
3. The revenue may be secured through undertaking and appropriate security.
C. CBIC Late Fees Waived
As a facilitation measure in these situation , CBIC has waived off late fee of ₹29 crores pertaining to 7821 Bills of Entry, in order to ensure no supply chain disruption of essential goods during COVID-19 lockdown period.