Abstract
Goods and Services Tax (GST) has successfully completed four years but still, it has many areas to be consolidated. Many frauds pertaining to input tax credit (ITC) under GST are being committed every year since 1st July 2017. We need to have comprehensive provisions under GST for making it flawless. One of the preventive measures is ‘blocked credit’ under section 17(5) of CGST Act, 2017. Indeed, blocked credit has been beneficial to the business concerns as it is being routed to direct tax for claiming deduction. This article explains the loopholes of blocked credit through accounting entries and discusses how blocked credit is not effective.
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