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23/07/2020
May 2021 Attempt
New GST Returns as earlier proposed to be introduced in 2020 scrapped by Government
Govt dumps new GST return system; to continue with modified version of existing one The GST Network, the IT support of the GST regime, is working on modifying and improving the current returns and will soon announce an advanced version of the existing system
Central Board of Direct Taxes (CBDT) has issued tax refunds worth Rs. 26,242 crore to 16,84,298assessees since 1st April, 2020 to 21st May, 2020.
Income Tax refunds amounting to Rs. 14,632 crore have been issued to 15,81,906 assessees and
corporate tax refunds amounting to Rs. 11,610 crore have been issued to 1,02,392 assessees duringthis period.