Allow buyers to claim ITC even if supplier defaults in depositing GST: PHD Chamber

Ahead of GST Day on July 1, industry body PHD Chamber of Commerce has raised the issue of blocking input tax credit and said the buyer should be allowed to claim credit for taxes paid on inputs, even in cases when the supplier has defaulted in the tax payment. In its representation to the GST Council Secretariat, the industry chamber will also seek clarity on whether the excess credit would be ref…