Govt clarifies ITC won't be disallowed for FY18, FY19 mismatches in bonafide errors

The government on Tuesday clarified that input tax credit (ITC) under the GST regime won’t be disallowed to businesses during 2017-18 and 2018-19 in cases errors are bona fide as the Department looks to ensure uniformity in the implementation of the provisions of the law across the field formations. The Central Board of Indirect Taxes and Customs (CBIC), which is a part of the&…