Weavers seek amendment in ITC notification
(WorldNews India)

Surat: While the GST Council in its 28th meeting decided to allow the input tax credit (ITC) to the power loom weaving sector, the weavers are unhappy with the inclusion of the word `shall lapse´ in the notification issued by the central government. The Southern Gujarat Chamber of Commerce and Industry (SGCCI) has written a letter to Union finance minister Piyush Goyal to consider the replacement of `shall lapse´ with `shall not be refundable´ in the notification. SGCCI president Hetal Mehta said, `The term `shall lapse´ means weaves won´t be able to carry forward the accumulated credit, which...