New Delhi, Apr 9 (KNN) The government has said that it would release all Goods and Service Tax (GST) & Customs refunds to provide benefit to around 1 lakh business entities including Micro, Small and Medium Enterprises (MSMEs).

It has been decided to issue all pending GST and Custom refunds which would provide benefit to around 1 lakh business entities, including MSME. Thus, the total refund granted will be approximately Rs. 18,000 crore,'' said an official statement on Wednesday.

The Government further asserted that it would provide immediate relief to the business entities and individuals by releasing all the pending income-tax refunds up to Rs. 5 lakh, immediately.

This would benefit around 14 lakh taxpayers,'' statement added.