FICO urges Punjab CM to clear pending GST, VAT refunds

The Federation of Industrial and Commercial Organisation (FICO) has urged Punjab CM Bhagwant Mann to release pending GST and VAT refunds, warning that delays are squeezing MSME working capital. The bicycle industry's GST refunds have been stuck for 8–10 months. UCPMA also submitted formal representations to the CM, Finance Minister, and Taxation Commissioner seeking urgent intervention.