CBDT to issue all pending income-tax refunds up to Rs. 5 lakh. GST/Custom refunds also to be issued
Government of India
Ministry of Finance
Department of Revenue
New Delhi, the 08th April, 2020
PRESS NOTE
CBDT to issue all pending income-tax refunds up to Rs. 5 lakh
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.
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- On omission/repeal of Rules 89(4B) & 96(10) of the CGST Rules, pending proceedings lapsed
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- No CA certificate required for reversal of ITC on discount given after supply made
