The Income Tax Department has issued a tax refund of Rs 1.57 lakh crore till last month this year. Revenue Secretary Ajay Bhushan Pandey gave this information at a press conference on Friday. Pandey said, 'till the month of November in the current financial year, Rs 1.57 lakh crore has been released as tax refund. Talking about this, the last financial year, the tax department had issued a total tax refund of Rs 1.23 crore in its entire period.

The Revenue Secretary had called a press conference to inform the results of the efforts made by the government to increase consumption. In this conference, he said that the measures taken by the government will help in raising the GDP growth rate below the six-year low.

Pandey said that there has been an increase of 17 per cent in tax refund cases and they have reached 2.16 crores. He said that the tax refund was 27.2 percent more in terms of money. Pandey also informed about the integrated GST refund at the press conference. Pandey said that Rs 38,988 crore has been released so far in the current financial year as an integrated GST refund, while Rs 56,057 crore was released as an integrated GST refund in the same period of the last financial year.

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