In a major relief for some taxpayers registered under GST, the GST Law Committee has extended the deadline to claim input tax credit by one week. So, now those taxpayers who are eligible for such refund will first have pay their tax dues - post adjustment of input tax credit by August 20, while calculating the tax dues, input - and then they can claim the input tax credit by August 28. For this process, the GST network is also planning to release ITC Claim forms by August 21. To understand the implications of this extension CNBC-TV18's Shereen Bhan caught up with Pratik Jain Leader - Indirect Tax at Pwc India.
Please see full video:
Copyright © 2015 - All Rights Reserved GSTSMS