Biz takes a hit as excess GST paid gets locked with govt

The Centre is looking into improving GST compliance by tackling technology issues and rationalizing tax rates, but the greater problem of working capital of businesses getting locked up remains unaddressed. With an estimated Rs 2 lakh crore stuck with the government due to procedural shortcomings in the new taxation regime, experts said it may lead to bigger problems if not addressed urgently. "Cl…