Punjab - Only 22% VAT refunds pending:

Out of the total 7,200 applicants for VAT refunds since April 1, 2005, only 1,500 cases are pending, and rest got the refunds.

This was stated by Financial Taxation Commissioner (FTC) Shivinder Singh Brar, while chairing a meeting held with the industrialists today afternoon at Circuit House.’

The meeting was organised after the industrialists met the CM on November 6 and highlighted various problems, including VAT refunds. Brar told the industrialists that the VAT refunds that are pending are below Rs 60 crore, and instructions have been given to officials to display the reasons for the delay on the official website.

He added, “Out of the total refund of Rs 245 crore, Rs 185 crores have been disbursed. The rest of the applications are in process.”

As per the officials, the department will start registration of VAT refund applications, and payment will be made on the basis of the date of application. The department has also been instructed to draw out a check list of the documents to be attached with the refund form. Brar specified, “Officials will have to give written explanation if they break the queue to please anyone for an early release of refund.”

Industrialists from Chamber of Industrial and Commercial Undertakings(CICU), United Cycles Parts and Manufacturers Association (UCPMA) and others took part in the meeting. Inderjit Singh Pardhan and Avtar Singh, president and general secretary of CICU respectively, Charanjit Singh Vishvkarma, president UCPMA, KK Seth, Satish Dhanda, TR Mishra and many other industrialists attended the meeting.