Businesses, govt spar over fraudulent ITC claims and imprisonment under GST

While the government has decriminalised 48 sections of the Companies Act, a controversy is brewing over jail provisions in the  GST  laws. The government defends the jail provisions for clamping down on fictitious firms and fraudulent claims of the input tax credit (ITC) under the goods and services tax (GST) regime, while businessmen and tax experts find fault in the extant provisions.…