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GST refund: 90% of overdue as on Aug 23 have been cleared: FM Sitharaman

Finance Minister Nirmala Sitharaman on Friday said the ministries have cleared most of the dues of goods and services to suppliers, priority given to MSMEs, and the remaining payments will be done in the next few days.She said, “Close to 90 percent of the outstanding GST dues, as of August 23 when I first mentioned the GST refunds, have been cleared. Hopefully, the 30-day limit is not crossed and I am sure Revenue Secretary will inform me but even in that we have kept the promise that refunds shall not be delayed.”

The government should not sit on overdue payments and the money should go to people who have been waiting for it.

A meeting was held in the national capital on September 27 between the Union Finance Minister Nirmala Sitharaman and financial advisors of key selected ministries. The meeting’s agenda was to review total CAPEX (capital expenditure) by the ministries in 2019-20 till now and to plan for future CAPEX in the current financial year.

Sitharaman added Government owes only Rs 20,000 crores dues that will be released by the first week of October. Have asked all ministries and will ask Central Public Sector Enterprises tomorrow to prepare CAPEX plan for the next four quarters.

Further, most infrastructure ministries have reached 50 percent of their Capex target for the current fiscal.

The government’s capital expenditure was on track and Budget estimates would be met.

Author: Niranjan Reddy

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