The Central Board of Indirect Taxes (CBIC) has announced that it has cleared a total of 29230 GST refund claims amounting to Rs. 11,052 crores in a period of 47 days starting from April 8th to May 24th. This announcement was made via the official CBIC handle on Twitter.
Earlier on April 8th, the Finance Ministry had announced that it has decided to settle all the pending GST claims and custom refunds to benefit around 1 lakh entities including MSMEs to fight the Covid-19 crisis. According to the organization, this step would provide relief to the taxpayers that are going through tough times due to the CoronaVirus crisis.