Input credit collected under GST to be deposited in a fortnight

Kumar said the annual turnover limit for composite tax of one per cent and two per cent on MSMEs

Union Minister for Chemicals and Fertilisers Ananth Kumar on Saturday said the input credit collected from traders under the goods and services tax (GST) would be deposited in their accounts within a fortnight.

Kumar said the liquidity in the market would increase with the deposit of input credit. “Input credit that was collected till now will be calculated on October 10 and 18. After a fortnight, the amount will be credited to the account of traders. This will enhance liquidity in the country. The economy will improve,” he told reporters here. “It is estimated that about Rs 50,000 crore will be