Column : GST Draft Code - The Ever Evolving Credit Provisions

Govt. is working overtime to make GST a reality in 2017, which is evident by the frequent changes in Draft Model Law first introduced in July 2016 (‘First Draft’) and the revised version issued in November 2016 (‘Second Draft’). Keeping in mind the primary objective of GST, the Input Tax Credit (‘ITC’) provisions have also undergone some changes to ensure simplification. Mr. Abhishek A Rastogi (Partner, Khaitan & Co) and Ms. Rashmi Deshpande&nb...