SC asks CBIC & GST Council to open 60 days window to clear pre-GST regime dues

As per the recent tweet by CNBC-TV18, says the Hon’ble Supreme Court rules in favour of taxpayers, asks for 60 days window to clear dues in Taxpayer Credit Case.

TAXPAYER CREDIT CASE:

• SC asks CBIC & GST Council to open 60 days window to clear pre-GST regime dues
• GST Council will have to notify SOPs to operationalise the window
• Govt estimates around 500 cr of genuine credit due to taxpayers
• Around 7,000-10,000 assesses exist where transitional credit could not be passed on

Alert: Taxpayers had challenged seeking payment of old dues at various High Courts.