Understanding Input Tax Credit in GST and why it may have drastic impact on companies

Matching of invoice under GST is a brilliant move to check fraud and drive more businesses to the formal economy , but by taking it one step further and linking tax payment by a supplier, to the availability of Input Credit to the buyer, the beauty of the system completely breaks down. To understand this, it is very important to know what input credit will do. One of the fundamental features of GS…