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Pityush Goyal (File photo) NEW DELHI: Amid Donald Trump’s offensive,

Representational image (Agencies) MUMBAI: Nuvama Wealth Management said on Thursday

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MUMBAI: HUL reported a 4% year-on-year rise in total sales

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Representational image (Agencies) MUMBAI: Nuvama Wealth Management said on Thursday that an I-T department survey is ongoing at its registered office, and the company is cooperating with authorities. Business operations

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Finance minister Sitharaman to push for timely tax refunds, better services

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Finance minister Sitharaman to push for timely tax refunds, better services

NEW DELHI: Finance minister Nirmala Sitharaman is expected to push tax authorities to ensure the timely refund of income tax, GST, and export-related dues, while flagging the long pendency in investigation by the Directorate General of GST Investigation (DGGI).Sitharaman is due to meet top officials of the Central Board of Indirect Taxes and Customs next Friday, followed by a similar interaction with principal chief commissioners (CCs) of income tax on June 23. The overall thrust seems to be on improving taxpayer delivery, litigation management, and accountability of the system, said a source.Delay in processing refunds beyond 60 days will be scrutinised, and explanations are expected to be sought from principal CCs of customs and GST, even in cases of rejections, as these tend to block funds that businesses can deploy for productive purposes, sources said.Even in the case of income tax, where processing of returns and refunds improved over the last few years, FM is expected to put the spotlight on cases where payments were held up due to non-processing of returns and rectification cases impacted by system-related issues.The minister will also review the dwell time of cargo clearance across ports and airports, with officials from CBIC asked to share data on clearances using the risk management system and the examination timelines for every zone. The functioning of DGGI and its investigations, which are often “open-ended,” have been an area of concern for the industry, and the finance minister’s focus on cases pending for over 180 days is seen as a clear message that govt does not want undue scrutiny.





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