FinMin to relax 100% physical examination requirement for ‘risky exporters’

| | New Delhi
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FinMin to relax 100% physical examination requirement for ‘risky exporters’

Friday, 26 July 2019 | PTI | New Delhi

nThe Finance Ministry has decided to gradually relax the requirement of 100 per cent physical examination of export consignments of “risky exporters” in case no discrepancies were detected on previous inspections. In order to check GST evasion, the Central Board of Indirect Taxes and Customs (CBIC) had last month identified 5,106 “risky exporters” who claimed GST refunds based on bogus invoices.

It was decided that Risk Management Centre for Customs (RMCC) will insert alerts for all such risky exporters and make 100 per cent examination mandatory of their export consignments.

The CBIC said it has received representations from exporters and organisations saying that their cargo is getting delayed and they have to incur additional costs for carrying out re-packing.

In a circular issued to field formations, the CBIC said that only a miniscule percentage of export consignments are being selected for examination on account of risk associated with fraudulent availment of IGST refunds. In order to bring down the level of examination, the CBIC has decided that RMCC will take into consideration the feedback received from field formations with regard to the 100 per cent examination conducted on exports of risk based identified entities.

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