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Punjab FM to centre: Stop indiscriminate stoppage of GST credit


Date: 22-02-2020
Subject: Punjab FM to centre: Stop indiscriminate stoppage of GST credit
New Delhi: Punjab finance minister Manpreet Singh Badal has asked the central government to remove a block on goods and services tax (GST) credits as it was leading to working capital issues.

"The indiscriminate stopping of tax credits, without even a prior notice and hearing is also likely to fall foul with the principles of natural justice," Badal wrote to revenue secretary Ajay Bhushan Pandey, referring to the GST Council authorising the blocking of 40,000 crore GST credits due to a mismatch in filings and returns.

In the letter seen by ET, Badal said that businesses, which were already reeling because of a sluggish economy and poor liquidity, were being made to shell out GST in cash even when they were entitled to tax credits.

Punjab FM to centre: Stop indiscriminate stoppage of GST credit
"The indiscriminate stopping of tax credits, without even a prior notice and hearing is also likely to fall foul with the principles of natural justice," Badal wrote to revenue secretary Ajay Bhushan Pandey, referring to the GST Council authorising the blocking of 40,000 crore GST credits due to a mismatch in filings and returns.

Source: economictimes.indiatimes.com

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