Page 2 - Gst Refund

I-T Dept to release all pending tax refunds up to Rs 5 lakh immediately

The move is aimed at helping many overcome cash crunch due to nationwide lockdown, and is expected to benefit 1.4 million taxpayers

Govt set to release Rs 20,000 cr pending GST compensation to states soon

second fiscal stimulus likely to be announced soon

GSTN processed 10,077 new registrations, 7,876 refunds during lockdown

Till March 31, 2020, GSTN had enabled 1,748 tax officers from 18 states/UTs to access office through VPN, a secure way to access office networks.

Exporters' 634 fraudulent GST refund claims worth Rs 1,912 cr detected

"The Government has taken measures to use data analytics to identify risky taxpayers and verify them before sanction of refunds," Thakur said.

Govt may propose GST refunds on capital goods purchases to exporters

Currently, under the LUT route, they need not pay tax on their export bills, but they stand to lose refunds on taxes paid on capital goods. Taxes on all other inputs get refunded

Govt to set up panel for designing SOP for checking fraudulent GST claims

The committee will come out with detailed SoP within a week, which may be implemented across the country by January-end

Revenue Secy to hold meet for streamlining GST refunds, curbing evasion

They will also discuss how to curb the misuse of refunds and share the best practices in revenue augmentation

Auto firms must take up GST rate cut demand with state FMs: Anurag Thakur

Minister of State for finance, Anurag Thakur said the government has already come out with slew of measures to address challenges faced by the auto industry

Top 10 biz headlines: Faster GST refunds, million auto jobs at risk & more

From a single-authority mechanism for processing GST refunds to exporters coming soon to NCLT approving JSW Steel's Rs 19,700-cr bid for Bhushan Power & Steel, here are today's top business news

Single authority mechanism for processing GST refunds to exporters soon

Move will help sanction and process refunds faster; may boost exports

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

All pending GST refunds to MSMEs will be made in 30 days: FM Sitharaman

Also, in future, all GST refunds of micro, small and medium enterprises (MSMEs) will be paid within 60 days from the date of application, the FM announced

MSMEs to get pending GST refunds within 30 days, says FM Sitharaman

In future, all GST refunds of micro, small and medium enterprises will be paid within 60 days from the date of application

Pay up interest for delay in paying GST refunds: Gujarat High Court

Saraf Natural Stone, a partnership firm, had filed a claim of GST refund. However, there was substantial delay by the authorities in granting of refund

AAR of Maharashtra rules out GST refund for post-sales discounts

The case pertains to UltraTech Cement, which sought clarity over the possibility of GST refund in the case of discount offered to its dealers after sale

How GST refunds are being resolved

The prime reasons why refunds have been delayed are mistakes by taxpayers in filing returns, and mistakes by exporters in furnishing details in shipping bills

Pending exporters' GST refund reflects govt's indifference: Mohandas Pai

Keeping exporters' GST refund pending reflects govt's indifference: Mohandas Pai

GST refund: Second phase of fast track clearance drive from Thursday

Special Refund Fortnight" to be organised from May 31 to June 14 in which Center and state GST officers will strive to clear all GST refund applications received on or before April 30, 2018