I-T Department to immediately issue pending refunds up to Rs 5 lakh
Govt will issue pending GST and customs refunds of Rs 18,000 crore
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Tribune News Service
New Delhi, April 8
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.
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This would benefit around 14 lakh taxpayers, said an official news release.
The government also 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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“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,” an official statement said.
It has 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, it added.
There have been about 150 deaths in India due to COVID-19 pandemic and over 5,000 positive cases. With PTI inputs
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