Fastening the process of Income Tax & GST Refunds under Covid-19 Situations

In another boquet of offerings -

A) For providing immediate relief to the business entities and individuals, Ministry of Finance has decided to issue all the pending income-tax refunds up to Rs. 5 lakh, immediately.* This would benefit around 14 lakh taxpayers.

B) Also 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:- Ministry of Finance for the below attached pdf.