With a view to provide immediate relief to the business
entities and individuals under COVID-19 situation, it has been decided to issue
following pending refunds:-
1. All the pending income-tax refunds up to Rs. 5
lakh, immediately. This would benefit around 14 lakh taxpayers.
2. 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.
(Source : Press release dated 8 April 2020)
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