Eye Share : Recommendations of 39th Council Regarding ITC Restrictions

Without being concerned about the legal issues raised regarding the very reasonableness of making the buyer liable to pay tax for default on the part of the supplier, the Government kept enacting Rules to enforce liability against the purchaser.Mr. Adithya Reddy (Advocate) in his incisive article discuss the introduction of Rule 36(4) pursuant to the recommendations of GST Council’s 37th meeting which imposed 20% restriction on  ITC e...