The Central Board of Indirect Taxes and Customs (CBIC) has said that it has extended the refund fortnight for fast track clearance of pending dues to exporters by two days till June 16.
As per reports, the central and state tax officials have already cleared refunds worth over Rs 7,500 crore since May 31, when the special drive to clear exporters refund was launched.
"In view of overwhelming response from exporters and pending claims, the period of refund fortnight is being extended by two more days i.e up to June 16, 2018," a finance ministry official said.
As per reports, with about Rs 14,000 crore of exporters refunds stuck due to various mismatches, the CBIC had organised the second phase of the special fortnight to fast track clearances. During the first phase, between March 15 and 29, an amount of Rs 5,350 crore was sanctioned.