GST revenues soar amid unclear laws reports Deccan Herald Assessments for the financial year 2017-18 are in the process of being completed. Taxpayers are bracing themselves for the next set of notices for financial years 2018-19 onwards.

The GST law in its present shape and form is very different from the one taxpayers saw in July 2017. There are a number of restrictions on input tax credit; registrations can be cancelled if returns are not filed and taxes paid;

assessments are becoming aggressive and notices are being issued with gay abandon. If ambiguities aren’t fixed, GST tribunals, expected to start functioning soon, will be flooded with appeals.