The government is working on to bring the invoice
matching process in a simpler form, eliminating the need
to file multiple returns, sources said.
With the simplification of invoice matching procedure,
the taxpayers will be able to claim tax input credit
faster.
The proposed changes will allow recipients to claim
input tax credit immediately after the simultaneous
upload of invoices by seller and purchaser, sources
said. This way delays in the monthly settlement cycle of
the GSTN would not be there.
Ficci has suggested removing restrictions on credit
claims unless the recipient has received goods and
services. Service providers are demanding centralised
registration. Currently, they have to register with
every state where they provide the service.
Ficci has suggested that utilisation of cash balance
against tax liability should be allowed. Currently, it
is allowed only in case of input tax credit claims
against central GST, state GST and Integrated GST.