according to 101st Amendment bill,2016 gst came in force w.e.f 1-7-2017 with a concept to remove cascading effect which are the drawbacks of earlier indirect taxes having such.But according to gstcouncil amendments w.e.f 1-1-2022 the itc credit is restricted to Gstr 2B which is drastic in nature. In practical scenerio the taxpayer is taken itc which is not present in Gstr 2B but it is available in Gstr 2A for a respective month from January 2022 onward If gst Act implementation brings to remove cascading effect then where is such smooth flow of credit to the next taxpayers which is totally wrong and the consequence is taxpayer paid the difference amount of tax in cash which is result in blockage of capital andthe mindset of taxpayer is now gone to that restriction of business dealings from medium and small scale enterprises that for the reason of not filling of following return timely. There is going such situation in lower level business hub which is totally unacceptable.Then who the country economically grow and achieve towards its upcoming goals if such situation is facing by the citizens of the country. In Gst the time period is too less to medigate the compliances such as to file return timely with having no such error or mistake,without having no personal family situation if the same is going on then in my opinion the Gst have more drawbacks then benefits which is totally should be stop with immediate effect and relaxation should be granted in tax compliances.In my opinion the conditions under section 16(4) i.e.,Condition no 5th should be replace with Gstr 2A in place of Gstr 2B and this is adequate to availed credit if a taxpayer is bonafide and this is appropriate in my opinion and can be challenged in any court of law in the Country for the present situation in the tax compliance procedures and should be done with retrospective effect. sir please give complete scenerio for the matter.
