Due to COVID-19 Government has taken Major decision by declaring that all pending Income tax refunds upto Rs. 5 lakhs and all pending refunds of GST or Custom will be released with immediate effect.
Press release dated 08-04-2020
- Income Tax Department to release all pending Income Tax refunds up to Rs. 5 lakhs 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.Press Release -Refund