The Comptroller and Auditor General (CAG) has asked the Finance Ministry to consider having an online system for processing customs refunds along the lines of the GSTN system to make it more efficient. The official auditor has also flagged “inordinate delays” in the implementation of the module for daily updation of exchange rate and asked to make the system operational at the earliest. This would make the monitoring of refund cases more efficient, effective and transparent,” CAG said. The CAG said implementation of a system which captures daily fluctuation in the exchange rate, will minimise the undue benefit or loss to importers and exporters and correspondingly to the Department. “The module for daily updating of the exchange rate may be made operational at the earliest,” the CAG said.

Source: Economic Times August 09, 2023 10:18 UTC