India, June 1 -- Similarly, instructions and training of the revenue authorities in matters concerning the Insolvency and Bankruptcy Code (IBC) will prove beneficial.

Other areas that deserve attention of policymakers and administrators are: (a) making GST credit fungible across registrations for "distinct persons" and, introduction of the group concept to enable credit flow between "related persons" (b) a mindset shift within the administration to smoothen the refund environment and not scuttling or delaying refund claims.

This article is authored by Raneet Mahtani, partner and Sangita Prakash, associate partner, Dhruva Advisors LLP.

Published by HT Digital Content Services with permission from Hindustan Times....