CBIC sanctioned GST refund claims of ₹11,052 crore in last 47 days. CBIC stays committed to ensure liquidity to GST taxpayer. All the refunds have been sanctioned while ensuring work from home of officials.
The CBIC had asked it’s field officers to avoid asking for physical submission of documents from entities, who are claiming GST and Customs refunds and use official email for all communication instead.
The CBIC had said that the decision to process pending refund claims has been taken with a view to provide immediate relief to the taxpayers in these difficult times even though the GST Law provides 15 days for issuing acknowledgement or deficiency memo and total 60 days for disposing off refund claims without any liability to pay interest.
CBIC decided to pay off GST and custom refund of around ₹18,000 crore which could benefit roughly 1 lakh entities.