In a bid to provide immediate relief to business entities and individuals amid coronavirus crisis, the Income Tax department has decided to issue all the pending refunds up to Rs 5 lakh, immediately.
The move will benefit over 1.4 million taxpayers across the country.
“It has also been decided to issue all pending GST and Customs refunds which would provide benefit to around 100,000 business entities, including MSMEs,” the I-T department said in a statement.
Thus, the total refund granted will be