according to gst notification no 20/2018 accumulated gst for textile as on 31/07/2018 will be lapse later in another notification they consider stock but it is not fair because.
1. we have paid value for the accumulated gst as well as income tax also as on 31/03/18, so we have rights to utilize the same and it was understood that we can utilize it suddenly how can government lapse the said accumulated gst.
i want to ask that does government have powers to lapse it ? should we file a case in court against said decision ?
Textile Industry Challenges GST Credit Lapse Under Notification 20/2018; Calls for Legal Action and Advocacy Rise A discussion forum addresses concerns about GST notification no. 20/2018, which mandates the lapse of accumulated GST credit for textiles as of July 31, 2018. Participants express frustration, arguing they paid for this GST and should retain the right to utilize it. Suggestions include filing a writ petition, approaching textile associations, and contacting government officials. Some replies clarify that the lapse applies only to fabrics and not the entire textile industry. The debate highlights confusion and perceived unfairness, with calls for legal action and advocacy to protect industry rights. (AI Summary)
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