MSMEs to get pending GST refunds within 30 days: Nirmala Sitharaman

Banks will also have to return all documents within 15 days of a loan closure, helping borrowers whose mortgaged assets are tied up

The government on Friday unleashed a series of reforms — from payment of all pending goods and services tax (GST) dues in 30 days to easier borrowing norms — for the struggling micro, small and medium enterprises (MSME) sector.  

Facing a severe liquidity crisis since demonetisation in 2016, the MSME sector had repeatedly made several demands. The most important among these had been quick clearance of all GST refunds, said a senior official of the Federation of Indian Micro and Small & Medium Enterprises.

Finance Minister Nirmala Sitharaman on Friday announced all pending dues shall be cleared within 30 days. In the