Speed Post News Network
New Delhi : In view of the COVID-19 situation and with a view to providing immediate relief to the business entities and individuals, the Finance Ministry has 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 Customs 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, according to a PIB release.