Understanding Block Credit Rules Under GST

Priyanka Sharma14 Jan, 2025Business

The Goods and Services Tax (GST) in India has streamlined taxation on goods and services into a unified system. However, one of the challenges GST registrants face is navigating the intricacies of Input Tax Credit (ITC). While ITC allows businesses to reduce their tax liabilities by claiming credits for taxes paid on inputs, not all credits are permissible under GST. This article delves into the concept of block credit in GST, explaining its rules and implications for businesses.