VKCA GST Newsletter – January 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.

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