A Whopping Rs 6.14 Lakh Crore Input Tax Credit-ITC Remains Blocked Through Rule 86A, Reveals RTI

During September this year, revenues collected for goods and services tax (GST) touched a five-month high at Rs1.17 lakh crore, says the Union ministry of finance. However, a whopping Rs6.14 lakh crore as input tax credit (ITC) remains blocked under Rule 86A by the tax authorities without any due process being followed. Out of this, just Rs1,370.71 crore was unblocked after one year, reveals infor…