New Delhi, Oct. 11 -- The Association of Indian Medical Device Industry (AiMeD) today welcomed the Government's latest step to speed up GST refunds for exporters and manufacturers.
The new system, announced by the Central Board of Indirect Taxes and Customs (CBIC), allows 90 percent of the refund amount to be released quickly in all low-risk cases.
"This is a very welcome and practical step by the union Finance Ministry and CBIC," said Rajiv Nath, Forum Coordinator, AiMeD in a statement here.
This move will make it much easier for companies to get back their tax refunds without long delays. It applies to all refund applications filed on or after 1 October 2025 and covers both exports and inverted duty structure (IDS) cases, where the tax...