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All Pending Income Tax, GST Refunds To Be Immediately Released; To Benefit 14 Lakh Taxpayers, 1 Lakh Businesses
Prime Minister Narendra Modi and Finance Minister Nirmala Sitharaman.
As per the notification, this move is designed to benefit 14 lakh taxpayers and 1 lakh businesses including MSMEs in light of the prevailing Covid-19 situation. The total refund amount is pitted to be in the range of Rs 18,000 crore.
It will address the demand and supply side issues facing the country, but its contours and timing of the announcement is yet to be worked out, senior government officials privy to the development said.
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