Topics In Demand
Notification
New

No notification found.

Taxpayers denied pre-GST tax credits
Taxpayers denied pre-GST tax credits

June 16, 2020

205

0


Listen to this article



The Centre has imposed a restriction on the time limit to claim transitional credit. On May 5, in a landmark judgement that brought much relief to taxpayers, the Delhi High Court allowed all taxpayers to claim transitional credit accumulated before the implementation of GST by June 30, 2020.

This judgement extended the period for claiming input credit from 90 days to 3 years and also allowed all taxpayers to take benefits of the order. The HC verdict, if also upheld by the Supreme Court, could have meant a huge revenue loss to the Central government. But the Centre will be amending Section 140 of the CGST Act and nullify the order issued by the Delhi High Court. Under this amendment, taxpayers will be required to litigate separately to avail any credit disallowed due to technical glitches or errors.

For more information on GST compliance, visit https://www.avalara.com/in/en/index.html

To Know more about Avalara GST Solution please click here –

https://www.avalara.com/simplify/en/india/gst-return-filing.html


That the contents of third-party articles/blogs published here on the website, and the interpretation of all information in the article/blogs such as data, maps, numbers, opinions etc. displayed in the article/blogs and views or the opinions expressed within the content are solely of the author's; and do not reflect the opinions and beliefs of NASSCOM or its affiliates in any manner. NASSCOM does not take any liability w.r.t. content in any manner and will not be liable in any manner whatsoever for any kind of liability arising out of any act, error or omission. The contents of third-party article/blogs published, are provided solely as convenience; and the presence of these articles/blogs should not, under any circumstances, be considered as an endorsement of the contents by NASSCOM in any manner; and if you chose to access these articles/blogs , you do so at your own risk.


images
Indrani Das
Marketing Manager

© Copyright nasscom. All Rights Reserved.