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I-T dept releases Rs 5,200 cr refunds to over 800,000 small businesses

The has released refunds amounting to Rs 5,204 crore to 820,000 small businesses, consisting of proprietory firms, trusts and companies, since April 8 to enable them carry out their activities without pay cuts and layoffs due to the situation created by Covid-19.

The department will issue further refunds of about Rs 7,760 crore as early as possible, Central Board of Direct Taxes (CBDT) said in a statement here.

ALSO READ: Health Ministry’s containment plan yet to address community transmission

The department has issued nearly 1.4 million refunds up to Rs 5 lakh each till date.

The board reiterated that responses are awaited from regarding reconciliation with their outstanding tax demands in around 174,000 cases. It requested these tax payers to do so within seven days so that refunds can be processed earliest.

ALSO READ: RBI gives NBFCs more time to restructure commercial real estate loans

GST Refunds:

The Central Board of Indirect Taxes and Customs (CBIC) has processed 12,923 refund applications involving claims of Rs 3,854 crore since March 30.

The board said it has processed 7,873 claims worth Rs 3,854 crore in the last

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How a bunch of outfits are still getting organic produce to your doorstep

Since late 2018, Paras Chopra has enabled people to vicariously grow their own organic vegetables in small parcels on his 55-acre farmland in Gurugram. Now, the seasonal produce from a larger portion of the land is feeding a spurt in demand.

Kosara, the app-based community farming venture that Chopra set up, is now delivering products within a week of registering new subscribers — those who simply want the organic farm produce. Its regular subscribers have their own virtual kitchen gardens, typically 700 sq ft, where vegetables of their choice are grown by local farmers. Kosara charges Rs 3,000 per month for a basket full of produce home-delivered every week, enough to feed a family of four. It caters to customers in Gurugram, Delhi and Noida, with plans to start in Faridabad soon, says Chopra, a former corporate lawyer.

The lockdown-driven surge in demand for organic food is a shot in the arm for community-supported agriculture. “Organic and local go hand in hand,” says Shameek Chakravarty, co-founder of agri-tech start-up Farmizen. The Bengaluru-based firm serves people in the city and Hyderabad. After the lockdown, it has added 5,000 to its existing customer base of 12,000.

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