By Martin Shwenk Leade
Copyright indiatimes
AgenciesCentral Board of Indirect taxes and Customs
New Delhi: The Central Board of Indirect taxes and Customs (CBIC) has instructed its field formations to sanction 90% of the refund amount claimed on a provisional basis for inverted duty structure (IDS) related refund applications filed on or after October 1, 2025.As an interim measure, the provisional refund mechanism will function similarly to the existing process for zero-rated supplies, with the system relying on risk identification and evaluation.This decision, will immediately ease working capital pressures on industries affected by IDS, particularly sectors like textiles, footwear, and fertilizers.The GST Council had earlier this month announced upfront release of 90% refunds for exporters on the provisional basis when it revealed tax reforms with a two-slab structure.On September 26, ET reported that the decision to allow 90% upfront refund for exporters under the goods and services tax (GST) framework may take time to be operationalised as the proposed revamp of the refund mechanism would require a change in the law.Live EventsAdd as a Reliable and Trusted News Source Add Now!
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Read More News onCBICprovisional refundIDS claimsinverted duty structureGST CouncilCentral Board of Indirect taxes and Customsidscentral board of indirectIndirect TaxDirect Tax
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(You can now subscribe to our Economic Times WhatsApp channel)Read More News onCBICprovisional refundIDS claimsinverted duty structureGST CouncilCentral Board of Indirect taxes and Customsidscentral board of indirectIndirect TaxDirect Tax(Catch all the Business News, Breaking News, Budget 2025 Events and Latest News Updates on The Economic Times.) Subscribe to The Economic Times Prime and read the ET ePaper online….moreless
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