GST refunds for the traders in the national capital released so far have now risen to Rs 738 crore, according to official data.
The process to release the GST refunds for the traders has been expedited by the state government in a bid to make the festival of lights Diwali more prosperous for the trader community.
Chief Minister Rekha Gupta has said that the traders across the national capital started receiving their GST refunds ahead of the festive season, and so far, Rs 738 crore has been disbursed under this initiative.
So far, a total of 8,259 refund applications have been processed, and a record number, including 7,409 claims below Rs 10 lakh, and prompt disposal of smaller claims has provided much-needed relief to small traders and business owners across the city.
The reason behind the increase in the speed of this work is due to adoption of modern technology that has enabled faster and more efficient processing of the refunds for traders.
The government is making consistent efforts to spread happiness among the general public amid the festive season, and in this regard, significant relief has been extended on pending water bills and unauthorised water and sewer connections, CM said.
The department of trade and taxes has successfully cleared pending refund cases amounting to Rs 1,002 crore, of which Rs 738 crore has already been paid to business establishments and traders.
Gupta has termed this a significant achievement that has infused new momentum into the refund process.
To make the refund system faster and more transparent, the GST Department has developed an advanced IT module in collaboration with IIT Hyderabad.
The module leverages data analytics, automation, and swift verification systems, ensuring prompt settlement of refund applications.
This initiative not only strengthens taxpayers’ confidence, but also promotes commercial activity in the capital, CM has said