Government to issue all pending income tax, GST and custom refunds immediately
All pending income tax refunds up to Rs 5 lakh will be immediately released to provide relief to taxpayers and businesses amid the coronavirus pandemic, the Ministry of Finance announced on Wednesday.
This would benefit around 14 lakh taxpayers, an official statement said. It has also been decided to issue all pending GST and Custom refunds which would provide benefit to around 1 lakh business entities, including MSME. Thus, the total refund granted will be approximately Rs 18,000 crore.”
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