Capt Amarinder Govt Releases Rs. 270 Cr For Clearing Pending Vat/Gst Refunds
Giving a further push to the Captain Amarinder Singh led government’s efforts to streamline the state’s fiscal situation and ensure timely payments, the Finance Department has released another Rs. 270 Crores towards clearance of pending refunds related to GST and VAT of traders and industrialists.
Disclosing this here today, a spokesperson of the Chief Minister’s Office said that of the total amount of Rs 270 crore, Rs. 214 crore had been released on account of VAT refund to nearly 2500 beneficiaries and Rs. 56 crore to about 1600 beneficiaries as GST refund.
The Chief Minister had directed the Department to clear all pending refund arrears on account of GST/VAT refunds to traders and industrialists across the state.
Captain Amarinder Singh has also directed the Excise and Taxation Department to work in sync with the Finance Department to ensure timely payment of GST refunds in the future, in order to further boost the momentum of economic activity in the state.
Expressing satisfaction over the improved fiscal position, the Chief Minister has asked all the departments to intensify their efforts to promote fiscal prudence and improve economic management to augment the pace of overall growth and development, the spokesperson further added.