Blog for Stock tips, Equity tips, Commodity tips, Forex tips:

Want to beat the stock market volatility? Just keep on reading this exclusive blog by Sharetipsinfo which will cover topics related to stock market, share trading, Indian stock market, commodity trading, equity trading, future and options trading, options trading, nse, bse, mcx, forex and stock tips. Indian stock market traders can get share tips covering cash tips, future tips, commodity tips, nifty tips and option trading tips and forex international traders can get forex signals covering currency signals, shares signals, indices signals and commodity signals.

245 Star Export Houses, 5,000 small exporters denied GST dues: Report

http://sharetipsinfo.comJust get registered at Sharetipsinfo and earn positive returns

More than 5,000 exporters and 245 Star Export Houses have not been given their Goods and Services Tax (GST) dues as a result of overreach by the taxman, the Financial Express.

This comes at a time when the country's exports have not performed all too well, with merchandise exports having contracted by 0.34 percent year-on-year (YoY) in November. In the past eight months, this was the fifth time that exports shrank.

Moneycontrol could not independently verify the report.

According to the report, the newly-designed system aims to identify genuine claims as against those suspected to have made excessive input tax credit claims. However, the long verification process undertaken by tax officials for the same has its downsides, with some genuine refund requests being withheld.

Sources told the paper what worries the community of exporters is that trading houses, some of which even have the Star Exporter tag, have faced similar issues. This, they said, highlighted that the system of identification was not without faults.

The director general of analytics and risk management (DGARM) wrote to tax officials, the report noted, wherein he pointed out that the methods undertaken to check malpractices on the part of exporters had either been ‘blunt’ or ‘draconian’.

Star Export Houses are basically established Indian exporters that have been accorded the status based on their export performance in two out of the three preceding financial years. The status allows the exporter to enjoy certain benefits and exemptions aimed at facilitating business.