LUDHIANA: An afternoon after the state govt ordered the discharge of Rs62 crore for taking out VAT and GST refunds, businessmen heaved a sigh of aid. But at the identical time, they are not easy the government allocate more funds for refunds, as there's still an enormous backlog of pending refunds, especially the ones associated with VAT. They are also not easy the state taxation department to get rid of the refunds on a ‘first-come, first-served’ basis, and payment of pastime on behind schedule VAT refunds.
According to Upkar Singh Ahuja, president of Chamber of Industrial and Commercial Undertakings (CICU): “We are thankful to the government for taking note of this serious issue of pending VAT refunds, however at the identical time, we request the finance minister to unlock a larger amount for refunds, as Ludhiana district alone has several crores of VAT refunds pending, which is the very best in the state. So, freeing Rs62 crore for all of the state will still no longer clear up Ludhiana’s downside, which has pending refunds of over Rs100 crore.”
Speaking to TOI, Narinder Bhamra, president of Fasteners Manufacturers Association of India (FMAI), stated: “Our VAT refunds are pending with the state taxation department for a very long time now. There are refunds of a few industrialists which might be even two years outdated. Though the government has acted, it is vitally past due, and it must now be ensured that deductions are disposed of on a ‘first-come, first-served’ basis, and no longer out of turn.”
According to Brijesh Vohra, a stitching machine manufacturer: “Our VAT refunds value lakhs are pending with the state taxation department. Sometime ago, a partial amount was once released to us. The state taxation department must pay pastime to us for the delay in paying us back our own cash.”
According to Upkar Singh Ahuja, president of Chamber of Industrial and Commercial Undertakings (CICU): “We are thankful to the government for taking note of this serious issue of pending VAT refunds, however at the identical time, we request the finance minister to unlock a larger amount for refunds, as Ludhiana district alone has several crores of VAT refunds pending, which is the very best in the state. So, freeing Rs62 crore for all of the state will still no longer clear up Ludhiana’s downside, which has pending refunds of over Rs100 crore.”
Speaking to TOI, Narinder Bhamra, president of Fasteners Manufacturers Association of India (FMAI), stated: “Our VAT refunds are pending with the state taxation department for a very long time now. There are refunds of a few industrialists which might be even two years outdated. Though the government has acted, it is vitally past due, and it must now be ensured that deductions are disposed of on a ‘first-come, first-served’ basis, and no longer out of turn.”
According to Brijesh Vohra, a stitching machine manufacturer: “Our VAT refunds value lakhs are pending with the state taxation department. Sometime ago, a partial amount was once released to us. The state taxation department must pay pastime to us for the delay in paying us back our own cash.”
Businessmen demand interest on delayed VAT refunds
![Businessmen demand interest on delayed VAT refunds]()
Reviewed by Kailash
on
July 20, 2018
Rating:
