Process to tag ‘risky’ exporters to change | Mint – Mint

NEW DELHI : The Union government is likely to tweak the mechanism followed to tag exporters as “risky”, two people aware of the development said, against the backdrop of slowing merchandise exports.

Exports of goods turned negative for the first time in 19 months amid a demand slowdown in the West.

Tax authorities label as “risky” those exporters who are suspected to have claimed tax refunds on the basis of fraudulent invoices. Mint had reported that more than 1,300 exporters had wrongfully claimed goods and services tax (GST) refunds worth 1,875 crore in 2020.

Based on GST, income tax and foreign trade transactions data, the Central Board of Indirect Taxes and Customs (CBIC) identified 7,516 entities as risky exporters. However, a group of micro, small and medium enterprises exporters said in a letter to CBIC chairman Vivek Johri that the mechanism used to tag exporters as risky is “neither transparent nor time-bound”.

Queries emailed to the ministry of commerce and the ministry of…

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