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CBIC issues duty drawback and GST refunds of Rs 1.75 lakh crore

New Delhi: The Central Board of Indirect Taxes and Customs (CBIC) issued duty drawback and GST refunds of Rs 1.75 lakh crore to exporters in the last financial year that  ended  on March 2022. As per the data released by the CBIC, around Rs 24,000 crore was issued as drawback and Rs 1.51 lakh crore was given as GST refunds.

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Earlier the Union Finance Ministry revealed that the Income Tax Department had issued refunds of Rs 2.24 lakh crore. The refund was issued to more than 2.43 crore taxpayers. Over Rs 2.59 lakh crore worth of refunds were issued to 2.37 crore taxpayers in the previous year.

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