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Govt to refund 90% of exporters claims within 7 days

While crucial issues under the yet-to-come goods and services tax (GST) regime still unclear, the government has decided to refund within a week most claims of exporters regarding export incentive schemes. “Ninety per cent of the amount claimed by exporters as credit drawbacks will be refunded within seven days,” commerce and industry minister Nirmala Sitharaman said on Thursday. The department of revenue has also assured her ministry that in an undue delay beyond two weeks, interest will be paid on the amount due.

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