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A number of companies applied for a Goods & Services Tax (GST) refund since the introduction of the tax regime. As on 02.12.2019, a total of 1,86,158 entities have filed 36,42,272 refund applications, out of which 34,46,010 refund applications have been finalised.
This was stated by Shri Anurag Singh Thakur, Union Minister for State for Finance & Corporate Affairs, in a written reply to a question in Rajya Sabha today.
The Minister further said there are 52,720 IGST (Integrated GST) refund claims pending for more than one year. The reasons for this pendency include non-submission of required documents by the applicants.
GST refund delays: pending IGST claims remain unresolved due to incomplete documentation, impacting refund finalisation timelines. Goods and Services Tax refunds: many registered entities filed refund applications with most processed to finality, but a number of IGST refund claims remain pending for over one year. Principal operative cause of pendency is applicants' failure to submit required documents; prompt finalisation of refunds depends on compliance with documentation and administrative verification.Press 'Enter' after typing page number.