Cash flow to be further impacted as GST Council lowers eligible credit under ITC to 10%

The 38th meeting of the  GST Council has made further changes to the way you can claim input tax credit. According to the Council in case where there is a mismatch or details have not been uploaded by the suppliers, input tax claim will not exceed 10 per cent of the eligible credit available in respect of invoices or debit notes uploaded by the suppliers. In October this year, the Government…