Good news for India Inc as GST Council may consider raising input tax credit

India Inc., looking to scale down inventory ahead of the expected rollout of the goods and services tax (GST) on July 1 to overcome the tax credit problem, may have something to cheer about. The GST Council will consider raising input tax credit from the current 40% at its meeting on Saturday. “There is a proposal to raise it... the council will take it up," said a government official. It could be…