GSTN protects Rs 14000 crore to pay Rs 66000 – Business News India

The GST Network has been a source of great pain to more than 60,000 taxpayers. Instead, the ITC tax of 14,000 crore of 66,000 taxpayers registered under the GST was banned. This concept was adopted under Rule 86A of the GST Act.

GST Network has been the talk of the town for a long time. GSTN sent a statement, “About 14,000 crore ITC, which includes 66,000 taxpayers, has been maintained as of today. This is only 0.38% (approximately) of the average ITC used by all taxpayers during the financial year.

What happened: This is due to the mistakes made by tax collectors. GSTN provides the most important support for Employment and Employment Taxes. The government incorporated Rule 86A into the GST Act in December 2019. It has taken action against taxpayers under the Act.

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