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Covid-19 is likely to be a litmus test for GST Council, say experts

Experts for staggered payments, liberal input tax credit norms, and expediting e-invoicing

Coronavirus | GST Council meet | Lockdown

Sudipto Dey 

Imaging: Ajay Mohanty
Experts say most businesses are exploring ways of optimising their cash flows by reviewing their input tax credit, including ways to liquidate the accumulated credits across states | Imaging: Ajay Mohanty

The GST Council is gearing up for a meeting in June, the first time after the imposition of the nationwide lockdown, amid the clamour for tax relief by industry lobby groups and pressure from states to shore up tax revenues. While the Council is likely to deliberate and come out with short- and medium-term measures to mitigate liquidity concerns of business, experts say it should not let go of the opportunity to expedite substantive reforms in the indirect tax system.



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First Published: Sun, May 31 2020. 20:02 IST