Companies facing cash crunch may have to reverse GST credit on delayed payments to vendors

Companies which have postponed  vendor payments due  to a  liquidity crunch  brought on by the Covid-19 crisis will have to face further working capital woes due to credit reversal with interest under the goods and services tax framework, in case they don’t clear the dues within 180 days of the date of invoice.  These cash-strapped companies will have to either make paymen…