The Goods and Services Tax (GST) rolled out across the country on July 1. The most pressing problem is to do with the availing of input tax credits by exporters. Another pressing problem is the capacity of the GST Network portal for filing tax returns. Input tax credits offset the taxes paid for inputs from the tax payable on the final output produced. The government is planning to roll out a system of e-wallets that would ease the input tax credit refund process.

Source: The Hindu October 07, 2017 14:12 UTC