Union Minister for Chemicals and Fertiliser Ananth Kumar on Saturday said the input credit collected from traders under the Goods and Services Taxes (GST) would be deposited into the account of traders within a fortnight. Kumar said the liquidity in the market would increase with the depositing of input credit.
“Input credit that was collected till now will be calculated on October 10 and 18. After a fortnight, the amount will be credited into the account of traders. This will enhance liquidity in the country. The economy will improve,” he told reporters here. “It is estimated that about Rs 50,000 crore will be paid to the traders. It will strengthen the economy,” he said. The Minister said the decision taken by the Finance Minister and the GST council on Friday has brought great relief to the MSME and small traders. He explained that the composite tax limit has been increased up to Rs one crore.