BMC’s Rs 450cr credit notes under lens as no GST paid

The BMC’s controversial credit note policy, where payments to builders were made through credit notes worth Rs. 450 crore for construction of 35,000 projects-affected persons’ (PAP) tenements, is under the scanner for non-payment of GST.

Central GST sources said the BMC issued credit notes to builders. The builders sold these to others, including prominent city developers, who used them to settle their civic dues.

Read more at: The Times of India