We are 4 years since the groundbreaking legislation changed the whole landscape of indirect taxes in India. But, the GST law is far from perfect and the anomalies become more apparent as the days go by. The legislation at the outset had numerous gaps, and the numerous amendments have played their part in increasing those gaps.
An acute situation is where the taxpayer is able to satisfy the material conditions of availing Input Tax Credit (ITC) on one or the other inward supplies but is unable to avail either because the procedure is dichotomous or the procedure is not there at all due to “the gaps in the statute”.
Source Manish Sachdeva
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