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Covid-19: Tax authorities hurry to issue refunds to ease businesses’ fund crunch
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CBDT says income tax refund worth ₹5,204 crore has been issued in last 10 days alone to nearly 8.2 lakh small businesses New Delhi: The direct and indirect tax authorities are issuing tax refunds on a priority basis to ease the liquidity crunch businesses are facing in the absence of sales during the nationwide lockdown.
The Central Board of Indirect Taxes and Customs (CBIC) said in a statement on Friday that it was fully committed to helping taxpayers. “Since 30 March, 2020, CBIC has processed 12,923 refund applications involving claims worth Rs.
5,575 crore," it said. In a separate statement, the Central Board of Direct Taxes (CBDT) said that income tax refund worth ₹5,204 crore has been issued in last 10 days alone to nearly 8.2 lakh
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