Companies may get a relief on transition of cess/tax credit following a Bombay High Court ruling

When a company pays indirect tax it collects what is known as tax credit. Tax credit can be used to set off part of future tax liabilities. When India moved to Goods and Services Tax (GST) several companies were left with a situation where they had crores sitting on their books in the form of tax credit.

from Banking/Finance-Industry-Economic Times https://ift.tt/3bSW53B