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GST law should not treat defaulting suppliers and innocent purchasers at par

GST law should not treat defaulting suppliers and innocent purchasers at par

Recently, the Goods and Services Tax regime in India, which brought transformational change in the country’s overall tax structure, completed four successful years. Though there were some initial hiccups or challenges faced by the industry in adopting the new regime, the government should be lauded for having an open mindset and being receptive to listen and understand the various concerns faced by the businesses and making all attempt to sort out the same ensuring a smooth transition.

One more area that requires immediate attention of government is to build an ecosystem for seamless flow of credit and to sort out various challenges faced by the businesses related to the same. The major concern that the assessees are facing today is that the GST legislation allows availment of credit to the recipient only if the supplier has paid the GST / tax to the government.

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