The Centre is working on a database of suppliers that will rank them on the basis of their goods and services tax (GST) compliance track record, credit history, transaction and supply history besides any past defaults. The mechanism could be brought in the upcoming vote-on-account and introduced from the next financial year.
Source Economic Times
Latest Posts in "India"
- GST Reduction on Fruit Drinks Excludes Colas; Prices Remain Unchanged for Carbonated Beverages
- Supreme Court Stays Retrospective GST Penalty, Examines Applicability to Non-Taxable Persons
- India Unveils Simplified GST Rate Structure
- GST 2.0: Key Changes, New Rates, and Business Impact Explained
- Guide to GST Refunds for Unregistered Persons: Cancelled Service Contracts Explained