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The press release says the number of refund claims received is not significant, adding that FBR encourages exporters to submit their claims in form Annex-H at the earliest so that their claims can be processed and paid.
textiles, leather, carpets, sports goods and surgical goods, that refunds shall be paid to them within 72 hours of filing of refund claim.
He said that the FASTER would be facilitate the export oriented industry by addressing the refund claims and ensuring more liquidity for them, adding that refunds worth millions of rupees will be released with this system.
'Each product category presumptive sales tax refund will be calculated in advance and fed into Risk Management System (RMS) of the FBR.
The claimants may just log in to the CDC web system and confirm that their Refund Bonds have been credited.
However, the director of the tax refund company noticed two credit card numbers repeatedly appeared in tax refund transactions for different travellers.
John Prugh of Ewing Twp., New Jersey, was irate when he completed his 2018 tax return this month and discovered his refund would be $3,000 less than what he received last year.
He said that currently, billions of rupees of exporters are stuck up on account of sales tax, customs rebate and income tax refund claims and duty drawback of taxes (DLTL) and delay in payment of these pending refunds causing losses to the largest foreign exchange earning sector through exports.
He said that currently, billions of rupees of exporters are stuck up on account of sales tax, customs rebate and income tax refund claims and duty drawback of taxes (DLTL) order under Prime Minister's export package and duty local taxes and levies schemes with the government and delay in payment of these pending refunds causing losses to the largest foreign exchange earning sector through exports.
'For 30 years since we started the VAT in 1988, we've done the refund so badly because the incentive to give refund is not there.
The undersecretary said the new system also allows the conduct of a risk-based post-audit instead of auditing claims before giving the refund, and requires the implementation of an electronic invoicing and receipts system.
An official release said, "Total GST refunds to the tune of Rs 91,149 crores have been disposed by CBIC and State authorities out of the total refund claims of Rs 97,202 crores received so far.
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- Refrigeration Cycle
- refrigeration oil
- Refrigeration Supply
- refrigeration system
- Refrigerator Car
- Refrigerator Ship
- Refrigerator Train
- Refrigerator Unit
- Refrigerator, Domestic
- Refrigerator, Gas
- Refsum's disease
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- Refuge Cove State Recreation Site
- Refugees and Displaced Persons
- Refugio County
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- refuse chute
- refuse compactor
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- Regan, Donald Thomas
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- Refugio County
- Refugio County, Texas
- Refugio County, TX
- Refugio Nacional de Vida Silvestre Gandoca-Manzanillo
- Refugio State Beach
- refund (some money) to (someone)
- Refund Annuities
- refund annuity
- Refund Anticipation Check
- Refund anticipation loan
- Refund Feature
- Refund Intercept Request
- refund it to
- Refund of deposit
- refund of deposit by landlord
- refund something to
- Refund Statute Expiration Date
- Refund Support Vocations Program
- refund to
- Refund Transfer Direct Deposit
- Refund, Tax
- Refund-Anticipated Return
- Refund/Fact of Filing
- Refundable Child Tax Credit
- Refundable Credit
- Refundable Credits
- Refundable Dividend Tax on Hand
- Refundable Modem Return Fee
- Refundable Security Deposit