22.07.2022: Supreme Court asks CBIC and GST Council to open 60 days window to clear pre-GST regime dues

The Hon'ble Supreme Court rules in favour of taxpayers, asks for 60 days window to clear dues in Taxpayer Credit Case. Taxpayers had challenged seeking payment of old dues at various High Courts.

TAXPAYER CREDIT CASE 

  • SC asks CBIC & GST Council to open 60 days window to clear pre-GST regime dues.
  • GST Council will have to notify SOPs to operationalise the window.
  • Government estimates around Rs 500 cr of genuine credit due to taxpayers.
  • Around 7,000-10,000 assesses exist where transitional credit could not be passed on.

Source: https://twitter.com/CNBCTV18Live/status/1550378889209597953

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