Finance minister Arun Jaitley tabled four pieces of GST related legislation as money bills in the Lok Sabha on Monday. Photo: Abhijit Bhatlekar/MintNew Delhi: The revised draft of the goods and services tax (GST) legislation tabled in Parliament on Monday could put pressure on the working capital of industries and spark greater litigation in the coming years, analysts said. The provisions also say telecom towers and pipelines will not be able to avail of credit in a GST regime. The earlier provision in the GST law provided that every capital good will be able to avail of credit over a period of two years. According to the earlier draft, tax credit after the matching of invoices could be reversed if the tax is not paid within three months.

Source: Mint March 28, 2017 18:56 UTC