Finance Ministry should consider having online system for processing customs refunds: CAG
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Flagging inordinate delays in the implementation of the module for daily updation of exchange rate, 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 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, adding that the module for daily updating of the exchange rate may be made operational at the earliest.
The CAG observed that the Central Board of Indirect Taxes and Customs in February 2014 stated that testing of a module for daily update of exchange rate through message exchange with State Bank of India (SBI) had been completed and commissioning of the same can be decided only after the technical issues with SBI get resolved. Subsequently, the module has been redesigned and the final 'Go-Live' prerequisites are being completed by SBI.
