Summary:
on their VAT refunds from finance companies, whereas the finance companies are offering loans on VAT refunds with as much as 24 per cent interest. Avneet KaurJalandhar, July 11The delay in VAT refund has perturbed city businessmen as they have been waiting for a long time to get their refunds. While all the other districts have been receiving VAT refund, Jalandhar has not received any since July 2017. Another city-based Industrialist, Rashpal Singh said, “Since GST has been implemented, the industrialists and traders are in losses. He added, “Where would a businessmen go now when he is being forced to pay 24 per cent of interest on his own hard-earned money..