The ongoing problem of delay in the processing of the GST refunds has resulted in more stakeholders coming forward to raise the concern. The Punjab Tax Bar Association (PTBA) on Friday shot off a letter to the chief minister, Capt Amarinder Singh, claiming that not only the GST, but crores of rupees worth VAT refunds, too were pending with the taxation department. They said the chief minister must intervene in the matter at the earliest. Giving information, Bal Kishan Gupta, president of the PTBA, 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.”
B R Kaushal, secretary-general of the PTBA, said: “It is a serious situation that not only the GST, but VAT refunds of businessmen are pending even after scrapping of the same. What is even worse is the finance department of the Punjab government had recently introduced a new channel of authorizing officials and the deputy controller of finance to verify the refunds even after clearance from the state taxation department. This move will further complicate the matter as already so much delay has been done in disposal of refunds.” He said due to the delay the present market situation had been affected making the matters more complex. “Both these factors 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,” he said.