The Punjab Tax Bar Association (PTBA) made a letter to the chief minister, Capt Amarinder Singh. The letter claimed that not only the GST, but VAT refunds worth of crores of rupees were also pending with the taxation department.
Stakeholders are continuously coming forward to raise the concern for ongoing problem of delay in the processing of the GST refunds.
President of the PTBA, Bal Kishan Gupta, said: “Along with businessmen and tax professionals, everyone is being affected due to the pendency of tax refunds. Several hundred crores worth refunds of VAT and GST are pending in the state. The chief minister must intervene in the matter and instruct the state taxation department to resolve the issue at the earliest.”
Such refunds are leading to blockage of working capital of businessmen. They are also forced to pay huge interests to banks on loan amount. The chief minister must take notice of this problem and get it resolved at the earliest