NBFCs pitch for full tax credit in respect of lease transactions

The Finance Industry Development Council (FIDC) has urged the Government to allow NBFCs to avail 100 per cent input tax credit on lease transactions in the upcoming goods and services (GST) regime.  In its submission to the Working Group for GST (banking, financial and insurance sector), the FIDC has said there is a "crying need to promote leasing of movable assets, especially for the develop…