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.

Share Market Live

NSE

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".

Also read:

Tax lapses under scrutiny: CBIC begins with 50,000 taxpayer cases from FY18

(Edited by : Anand Singha)