Total VAT Refunds Pending In Punjab Are Rs 300.74 Crore: Excise & Taxation Department

Ludhiana, June 13, 2016: The Excise & Taxation Department of Punjab state has clarified that as on May 31, 2016, total refunds pending in the State of Punjab as a whole are Rs. 300.74 crores and refunds to the tune of Rs. 153.96 crores are pending in Ludhiana –I, II and III as on May 31, 2016. It is pertinent to mention here that the Department of Excise and Taxation has disbursed 3599 refunds to the tune of Rs. 328.80 crores during the period from February, 2016 to May, 2016 as compared to 2679 refunds to the tune of 246.72 crores cleared in the corresponding period of previous year.
A representative of the department informed that First- in- First- out Principle is being followed in clearing the refunds expeditiously. The information given in a section of media that VAT refunds of genuine firms to the tune of Rs. 1500 crore is lying pending for two years is factually incorrect. At present, there is no refund which is pending for more than 6 months. This news has been published without taking the actual figures of refunds pendency from the Department.
Such news items portrays wrong picture of the Department. It is highly malicious and defaming. It is unethical to present such a wrong picture in public domain without any preliminary investigation. It is requested that the facts and figures be procured from the Department first before publishing any news item to avoid unrest amongst Business Community