The Department of Revenue has asked DGT Department to check regularly compliances and verification reports from other regulators and that also includes certifications from banks. According to Finance Ministry source, ”No NPAs” (non-performing assets, or bad loans) certificates from banks in view of the disclosures of mis-availment of IGST (Integrated Goods and Services Tax) refunds by certain exporters holding ”star” status” have been asked from exporters. “Of the 241 cases taken up for detailed scrutiny, data of 82 star exporters show that declarations before income tax and GST are at significant variance,” he said. Moreover, CBIC has asked DGFT to install a more robust accreditation process and take necessary action as per law for all the star status exporters.
