COVID-19: Income Tax, Customs, GST Refunds to be released immediately, says Finance Ministry

The Ministry of Finance said that, IT Department to release all pending income tax refunds up to Rs 5 lakhs immediately. Around 14 lakh taxpayers to benefit. All GST & CUSTOM refunds also to be released to provide benefit to around 1 lakh business entities including MSMEs. Rs 18,000 crore of total refund granted immediately. In the context of the COVID-19 situation and with…