GST reconciliation & the credit dilemma

Goods and Services Tax (GST) is considered a landmark reform replacing multiple indirect taxes. One of the key features of GST is it being a true Value-Added Tax (VAT), providing for the seamless flow of credit across goods and services. However, while that may be so, the eligibility of credit has been a constant matter of dispute (a) wherever there is a non-payment of GST by the supplier and (b)…