S.128 A & S16(4) ITC Disallowance: Karnataka State CA Association submits Representation to Union Finance Minister

The Karnataka State Chartered Accountants Association has submitted a representation to the Union Finance Minister regarding the disallowance of Input Tax Credit (ITC) under Sections 128 and 164 of the GST Act. The representation highlights the challenges faced by businesses, particularly in the context of ITC disallowance on certain expenses. The Association has requested clarifications and amendments to the GST law to address the difficulties encountered by businesses in availing of ITC. The issue primarily revolves around the denial of credit on certain types of expenses, which has led to financial burdens for businesses. The matter is under review by the Finance Ministry.