Exporters face GST refund issues as invoicing matching is made mandatory
While the Covid-19 pandemic is already causing operational issues, exporters have been reporting an additional cash crunch due to issues in processing GST refunds. In a recent circular, the Centre notified exporters that ITC refunds would not be processed unless the invoice was matched with the one provided by the vendor. Since the Centre has waived off the late fees for uploading certain return forms and other documents for companies and suppliers, exporters are now unable to match invoices that are yet to be uploaded leading to serious delays in the issue of refunds.
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