https://www.taxtmi.com/forum/issue?id=110875 The draft GST conditions input tax credit on the buyer only when the supplier has paid tax on the relevant supplies, delegating to purchasers the duty to verify supplier payment through system-driven reconciliation (such as a centralized ledger via GSTN). Proponents present this as necessary for revenue protection and to prevent misuse where suppliers collect but do not remit tax, while industry respondents flag compliance burdens for buyers-notably small and medium enterprises-and suggest technological reconciliation, contractual safeguards, and administrative or statutory remedies as mitigations. en-us Sun, 04 Sep 2016 00:25:24 +0530 Thu, 23 Jan 2025 15:56:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=110875 The draft GST conditions input tax credit on the buyer only when the supplier has paid tax on the relevant supplies, delegating to purchasers the duty to verify supplier payment through system-driven reconciliation (such as a centralized ledger via GSTN). Proponents present this as necessary for revenue protection and to prevent misuse where suppliers collect but do not remit tax, while industry respondents flag compliance burdens for buyers-notably small and medium enterprises-and suggest technological reconciliation, contractual safeguards, and administrative or statutory remedies as mitigations. Discussion-Forum GST Sun, 04 Sep 2016 00:25:24 +0530 https://www.taxtmi.com/forum/issue?id=110875