Questions were being raised about how successfully the government has processed the refund applications under GST. The Union Minister for Finance for state gave the following data on refund applications:
A number of companies applied for a Goods & Services Tax (GST) refund since the introduction of the tax regime. As on 02.12.2019, a total of 1,86,158 entities have filed 36,42,272 refund applications, out of which 34,46,010 refund applications have been finalised.
This was stated by Shri Anurag Singh Thakur, Union Minister for State for Finance & Corporate Affairs, in a written reply to a question in Rajya Sabha today.
The Minister further said there are 52,720 IGST (Integrated GST) refund claims pending for more than one year. The reasons for this pendency include non-submission of required documents by the applicants.
CAclubindia
