The process of ITC reconciliation is a key tenet of the GST Act. It is being implemented and improved in order to capitalize on and eliminate the GST cascading effect. However, from the start of the Act’s implementation, GST ITC has been an area with the most loopholes and frauds.

The government has enacted Section 16(2) (aa) along with the…[Read more]

The process of ITC reconciliation is a key tenet of the GST Act. It is being implemented and improved in order to capitalize on and eliminate the GST cascading effect. However, from the start of the Act’s implementation, GST ITC has been an area with the most loopholes and frauds.

The government has enacted Section 16(2) (aa) along with the…[Read more]