Government of India
Ministry of Finance
Department of Revenue
New Delhi, the 08th April, 2020
In the context of the COVID-19 situation and with a view to provide immediate relief to the business entities and individuals, it has been decided to issue all the pending income-tax refunds up to Rs. 5 lakh, immediately. This would benefit around 14 lakh taxpayers.
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.
2 thoughts on “GOVT. TO ISSUE INCOME TAX AND GST REFUNDS IMMEDIATELY”
What is the definition of immediately?
In common parlance “Immediately” means : “as soon as can be done” without excuse.
In the case of refund, it means : The relevant department shall dispose off all the refund related issues as soon as possible. If any problem occurs while disposing off the same, the department shall issue a notice to the taxpayer and after reply to that notice by the taxpayer, the department shall issue the refund as soon as possible.
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