Overview
- Officials said pending refund cases worth Rs 1,002 crore have been cleared, with Rs 738 crore already paid out to businesses.
- A total of 8,259 refund applications have been processed so far, including 7,409 claims below Rs 10 lakh prioritized for small traders.
- The new IT system uses data analytics, automation and swift verification to speed up settlement, according to the GST Department.
- Leaders said releasing refunds before the festival is intended to bolster taxpayer confidence and energize market activity.
- Alongside the refunds, the government announced 100% waivers on charges and penalties for pending water bills and unauthorized connections, estimated at about Rs 11,000 crore in surcharges.