GST credit: A dire need to incorporate learnings from the past

The implementation of the Goods and Services Tax (GST) has indeed been a journey marked by its own ebbs and flows. Lawmakers have been incessantly trying to make suitable amendments to the GST law based on feedback from the industry. One such crucial area which is yet to be addressed is ‘input tax credit’. While there have been multiple news reports on misuse of this (including wrongful transition…