Exporters hail GST Council decision to process refunds within seven days

New Delhi: Hailing the decisions of the GST Council, apex exporters' body FIEO on Wednesday said the commitment to process refunds within seven days is a step in the right direction and will greatly ease liquidity stress on exporters.

Federation of Indian Export Organisations (FIEO) said that timely and predictable refunds are critical to maintaining India's export competitiveness, particularly at a time when global demand remains uncertain.

"We look forward to continued collaboration with the government in ensuring smooth execution of these measures on the ground," FIEO Director General Ajay Sahai said in a statement.

Allowing GST refund below Rs 1,000 will benefit e-commerce exporters largely, he said.

"GST announcements on exports refund is a very welcome move by the GST Council and will provide much-needed relief to exporters. The commitment to process refunds within seven days, and the facilitation through ICEGATE for small taxpayers, is a step in the right direction and will greatly ease liquidity stress on exporters," he added.