The Goods and Services Tax (GST), implemented in India from July 1, 2017, introduced a uniform indirect tax regime with the promise of seamless input tax credit (ITC) across the supply chain.
However, to prevent revenue leakage and misuse of credit provisions, Section 17(5) of the CGST Act was introduced to specify a list of 'blocked credits' i.e., scenarios where ITC is not available, even if the expenses are incurred in the course or furtherance of business. These restrictions aim to strike a balance between business facilitation and revenue protection. #pdf
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