Ludhiana: CICU urges Punjab government to address GST and pending VAT refunds

The Chamber of Industrial and Commercial Enterprises (CICU) has appealed to the Punjab government to address the backlog of pending Goods and Services Tax (GST) and Value Added Tax (VAT) refunds affecting hundreds of industrial units in the state. The CICU sought the intervention of Chief Minister Bhagwant Maan and other ministers to resolve the issue which is critically hampering business.

CICU President Upkar Singh Ahuja said that since GST was implemented in 2017, CICU reports that numerous businesses remain stuck in limbo, with unresolved refund cases hampering their financial stability. This delay poses a particularly serious problem for industries – including bicycle parts and agricultural machinery manufacturing, where input taxes paid far exceed output taxes collected, making timely refunds critical to sustaining operations. The CICU points out that outstanding refunds represent VAT that has already been remitted to the government and should therefore be promptly returned to businesses to maintain their financial health.