SEARCHED FOR:TAX REFUNDS
1,377 'risky exporters' who claimed Rs 1,875 cr GST refunds not traceable in principal place of biz
As on date, 7,516 exporters are in the 'risky exporter' list. Out of them, for 2,830 exporters' IGST refund /drawback worth Rs 1,363 crore is suspended. The official further said the government has received adverse reports in respect of 2,197 risky exporters and as many as 10 'star exporters' have claimed Integrated Goods and Services Tax (IGST) refunds.
Aluminium industry pegs 12-13% tax refund rate under new export scheme citing high burden of unrebated taxes
The lobby group has urged the co...
Central Board of Direct Taxes issues Rs 71,000 cr tax refunds
The Central Board of Direct Taxes (CBDT) has issued refunds worth Rs 71,229 cro...
Vijay Shekhar Sharma accidentally shared details of Paytm Mall's I-T refund worth over Rs 27 cr
The fintech boss realised his mistake and was quick to respond to his Twitter followers.
Beware of income tax refund scams: I-T dept warns taxpayers against fake links
Recently, due to the coronavirus related lockdown, the tax department announced thatit would issue refunds of up to Rs 5 lakh immediately to tide over the financial emergency.
CBDT allows processing of I-T refund claims for old non-scrutiny cases till Oct 31, 2020
The re-opening of the relaxation window has been given to prevent genuine hardships for taxpayers and address their pending grievances, in an order issued on Friday, since many taxpayers were not able to claim the past refunds due to some technical glitch or other issues.
Supreme Court orders Income Tax department to refund Rs 833 crore to Vodafone Idea
This is the second such refund that the telco will get and it comes at a time when the telco has told SC in the AGR case that it faces a severe cash crunch with its net worth totally eroded. On April 29, the top court had directed the tax department to refund Rs 733 crore.
I-T refunds worth Rs 71,229 crore issued to 21.24 lakh taxpayers during April 8-July 11
The government has laid great emphasis on providing tax related services to the taxpayers without any hassles and is aware that during these difficult times of COVID-19 pandemic, many of the taxpayers are waiting to see that their tax demands and refunds reach finality as quickly as possible
FIEO suggests government to issue showcause notice to risky exporters for tax refunds fraud
Responding to media reports highlighting that 1,377 exporters, who fraudulently claimed IGST refund worth Rs 1,875 crore, FIEO said: “While the number of untraceable exporters as a percentage of total number of exporters is not much yet untraceability of such a large number of exporters requires concerted efforts by all of us to trace them and bring them to books.”
Action against risky exporters who attempted to claim Rs 2,020 cr IGST refunds: FinMin officials
The number of untraceable risky exporters has gone up to 1474 as on date, which includes 7-star exporters, the officials said, adding that IGST refund in the cases have been suspended.
Exporters facing GST refund issues as govt makes invoice matching compulsory for input tax credit
This situation is a result of the government waiving off late fees for companies and suppliers to upload certain forms under the goods and service tax, tax experts said.
CBIC allows refund of input tax credit accumulated on imports
The clarification was issued after trade flagged that input tax credit claims were being rejected by tax authorities since invoice details of the unused credit in several cases were not getting reflected in the return form – GSTR 2A – which has details of all inward supplies.
Govt to immediately issue Rs 18,000 crore as pending tax refunds to individuals, businesses
Income tax refunds to individuals, upto Rs 5 lakh that have been pending will be released quickly, which will benefit some 14 lakh people.
Resolve risky exporters' issue immediately, release refunds: FIEO
The Federation of Indian Export Organisations (FIEO) said that during the current crisis, exporters are already facing problems and the matter of risky exporters is further adding to their woes.
Give us tax certificates instead of tax refunds if money is a problem: Companies tell government
Companies want government to allow loans on these tax certificates, to help with their cash problems. They also want the government to allow banks to lend at interest rates of 1-2 per cent while keeping these certificates as collateral, or treating then as cheque discounting, people aware of the matter told ET.