The other suggestions in the memorandum are:Input tax credit on capital goodsThere are some service providers or goods exporters who incur a substantial part of their expenditure on capital goods. These assessees are unable to get input tax credit (ITC) on procurement of capital goods when they export their products or services without paying IGST under LUT. Even though exports are zero rated under GST law, assessees are unable to get refund of input taxes as the formula does not allow such input tax credit. Under these circumstances, the government may ensure that the benefit of zero rated supply is available to genuine exporters by providing input tax credit on procurement of capital goods. Introduce functionality in portalAt present, there is no functionality in the GST portal to file multiple and supplementary claims in case the assessees genuinely missed some refunds.

Source: Economic Times August 16, 2023 11:13 UTC