GST Input Tax Credit Changes Will Hurt Corporate Cash Flow

Matching of input tax credit under the Goods and Services Tax became more complex and burdensome for taxpayers on Jan. 1, as recent changes to the law came into effect. A crucial amendment has been introduced under Section 16 of the Central Goods and Services Tax Act, 2017, which mandates the filing of return by the supplier, and communication thereof of such filing to the recipient, to avail the…