'Flexibility to change GST liability to go'

IN a bid to curb the practice of claiming bogus or higher input tax credit (ITC), finance ministry will bring a major reform to the GSTN system.

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In an interaction with this paper, Revenue Secretary Sanjay Malhotra revealed that the flexibility to change the GST liability without changing the input tax will be removed to prevent tax evasion.

"The facility to edit given to the buyers to increase their input tax credit and sellers to reduce their output liabilities without corresponding changes will be removed. This will reduce the problem of bogus firms, non-existent firms, and revenue loss," Malhotra said.