Why SC ruling on GST error corrections is a major relief for businesses

The Supreme Court recently held that companies can rectify clerical or arithmetical errors in Goods and Services Tax (GST) filings and they should not be penalised for doing this.  This decision upheld businesses’ right to correct such mistakes without facing penalties or denial of Input Tax Credit (ITC), as long as there is no revenue loss.   “The court has noted that human errors and m…