SC asks CBIC & GST Council to open 60 days window to clear pre-GST regime dues
As per the recent tweet by CNBC-TV18, says the Hon’ble Supreme Court rules in favour of taxpayers, asks for 60 days window to clear dues in Taxpayer Credit Case.
TAXPAYER CREDIT CASE:
- SC asks CBIC & GST Council to open 60 days window to clear pre-GST regime dues
- GST Council will have to notify SOPs to operationalise the window
- Govt estimates around 500 cr of genuine credit due to taxpayers
- Around 7,000-10,000 assesses exist where transitional credit could not be passed on
Alert: Taxpayers had challenged seeking payment of old dues at various High Courts.
Source from - https://twitter.com/CNBCTV18Live/status/1550378889209597953