Home / Economy / News / Rs 5,575-cr indirect tax refunds processed since March 30, says CBIC

Rs 5,575-cr indirect tax refunds processed since March 30, says CBIC

Earlier, the tax body had initiated a measure to help GST return filers by facilitating early refund of input tax credit

tax, cash, fund, returns, savings, investment, investors, rupee,

Premium

The due date of all such applications which were due during March 20, 2020, and June 29, 2020, has been extended to June 30, 2020

BS Web Team Agencies

2 min read Last Updated : Apr 18 2020 | 10:06 AM IST

More than 12,900 refund applications from taxpayers, involving Rs 5,575 crore worth of refunds, have been processed since March 30, 2020, the Central Board of Indirect Taxes and Customs (CBIC) said on Friday. The body had processed 7,873 claims, worth Rs 3,854 crore, in the past week alone, reported news agency ANI.

CBIC is running a 'Special Refund and Drawback Disposal Drive' this month to clear Rs 18,000 crore worth pending refunds.

Earlier, CBIC had initiated a measure to help GST return filers by facilitating early refund of input tax credit (ITC) and ensuring wrong ITC claims were not processed

Topics : Coronavirus Lockdown File GST return Indirect Tax tax refunds CBIC GST refund taxpayers Taxation tax returns tax department

What you get on BS Premium?

Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
Pick your 5 favourite companies, get a daily email with all news updates on them.
Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
Preferential invites to Business Standard events.
Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.

VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in