MoF announces COVID-relief for taxpayers; Directs immediate issuance of pending income-tax, GST refunds

Ministry of Finance [MoF] directs immediate issuance of all the pending income-tax refunds upto Rs. 5 lakh, with a view to provide instant relief to the business entities and individuals amidst COVID-19 situation; States that “This would benefit around 14 lakh taxpayers.”; Likewise, directs issuance of all pending GST and Custom refunds which would provide benefit to around 1 lakh business entities, including MSME; According to MoF, the total refund granted will be approx...