MSME Supplier and Input Tax Credit under GST – A Conundrum
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- Last Updated on 11 November, 2021
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Sudeep Manek & Yogesh Gaba – [2021] 132 taxmann.com 61 (Article)
Micro, Small and Medium Enterprises (‘MSMEs’) are the backbone of Indian Economy. Various measures have been taken to strengthen their position in trade and commerce. Unintentionally, one of such measures has created a huge problem for Enterprises procuring goods and services from MSMEs suppliers. The problem relates to eligibility of Input Tax Credit of the recipient where the supplier has not deposited the tax to the Government. In this article, the authors have discussed this issue in light of MSME laws along with possible solutions.
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