Industry seeks major reforms on input tax credit rules to boost cash flows, operational efficiencies: Sources

In yet another plea to improve the intricacies under the Goods and Services Tax (GST) regime, financial experts and industry leaders have approached the government, proposing a series of sweeping reforms aimed at easing the bottlenecks for the industry, particularly with regard to the Input Tax Credit (ITC) framework. The move comes amid widespread concerns about mounting credit accumulation and l…