Overdue GST refunds totaling 1,600 crore rupees, accumulated since 2019, to be disbursed before the Diwali festival: announcement by Delhi's Chief Minister, Rekha Gupta.
Delhi Government Accelerates GST Refund Process for Traders
In a significant move aimed at boosting the economy and providing relief to traders, the Delhi government has announced that it will release pending GST refunds amounting to nearly Rs 1,600 crore before Diwali. This decision was made during a special meeting of the Department of Trade and Taxes (GST) at the Chief Minister's camp office in Civil Lines.
The refunds, according to Chief Minister Rekha Gupta, would ensure adequate liquidity for traders, reduce their litigation costs, and collectively accelerate Delhi's economic growth. Gupta directed that the entire refund amount be disbursed to the traders before Diwali.
To speed up and increase transparency in the refund process, the Delhi GST department has developed an advanced IT module in collaboration with IIT-Hyderabad. This IT module is based on data analytics, data automation, and expedited verification. The module is intended to ensure quicker settlement of refund applications and provide timely relief to traders.
The chief minister emphasized that the administration is continuously making efforts to protect and promote the interests of traders. Strengthening 'ease of doing business' for traders is a top priority of the Delhi government, as assured by the chief minister.
The Delhi government has established a Traders' Welfare Board, which includes appropriate representation from Delhi's traders. The Traders' Welfare Board, as stated by the chief minister, is part of the National Traders' Welfare Board under the Government of India’s Ministry of Commerce & Industry, Department for Promotion of Industry and Internal Trade (DPIIT). The board is intended to ensure that the issues and concerns of traders are being addressed.
The meeting was attended by GST Commissioner Nandini Paliwal, Finance Secretary Shurveer Singh, and other senior officials of the department. The chief minister claimed that the previous government failed to take any concrete measures towards the settlement of the long-pending amount.
The chief minister also assured that the issues and concerns of traders are being addressed through the Traders' Welfare Board. She further emphasized that the administration is making continuous efforts to protect and promote the interests of traders.
In conclusion, the Delhi government's initiatives towards the GST refund process and the establishment of the Traders' Welfare Board are significant steps towards ensuring ease of doing business for traders and boosting Delhi's economy.
