Central Board of Indirect Taxes and Customs has provided a slew of relief measures to GST taxpayers on 2nd May 2021.

The claim of Input Tax Credit (ITC) is crucial in indirect taxes and forms a large part of the GST laws in the country in terms of compliances, restrictions, reversals and refunds. False claim of ITC is rampant and poses a major hurdle in curbing tax evasion. Hence, it’s not a surprise that the GST department has introduced a new law restricting ITC claim further by taxpayers.