All pending tax refunds to be made immediately

New Delhi: All pending GST, customs and income tax refunds will soon be credited into respective accounts as the government has decided to provide immediate tax relief to about 1 lakh businesses and 14 lakh taxpayers.

With this, the Union Finance Ministry will provide a total tax refund to the tune of Rs 18000 crore. The move is seen as an extension of the relief measures worth Rs 1.7 lakh crore announced by Finance Minister Nirmala Sitharaman and monetary measures announced by RBI Governor Shaktikanta Das in view of Covid-19 outbreak.

Nirmala Sitharaman announced a medical insurance cover of Rs 50 lakh per person for those on the frontline of the fight against the deadly coronavirus outbreak, including doctors, nurses and sanitation workers.

In the meantime, Prime Minister Narendra Modi suggested today that the lockdown to check the spread of coronavirus will be extended and restrictions will not be lifted in one go after April 14, amid a spurt in COVID-19 infections in the country.

 

NT Bureau