GST credits: This crucial new clause in GST rules is a mood-spoiler for the taxpayer

October is a month of festivities for India and it was expected that the government would spur the mood of the market by way of some positive announcements. To this extent, the announcements made in the 37 th GST Council meeting on September 20 did help assuage the nerves by way of certain positive announcements towards rationalisation of the tax rates and removal of ambiguities in the law. While…