- Traders and industrialists are reporting prolonged delays in GST refund disbursement, with trade circles estimating about Rs 1,500 crore pending (unverified).
- Businesses say refunds pending since January and February are hurting cash flow, forcing some units to borrow to meet operating expenses.
- Higher input costs from global conflicts and supply-chain disruptions have reportedly raised prices of dyes, chemicals, and other raw materials by 30–35%, increasing working-capital needs.
- Traders are calling for official disclosure of pending refund status and accountability for delayed eligible refunds, similar to penalties imposed on taxpayers for late payments.
- They have also urged the Punjab Finance Minister to review pending cases and consider, where legally permissible, offsetting pending GST refunds against electricity bills until cash refunds are released.
Source: a2ztaxcorp.net
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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