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 NEW DELHI : The government has further tightened the goods and services tax (GST) rules, curtailing the use of tax credits and tweaking the electronic permits needed for goods transportation to check tax evasion amid a sharp shortfall in revenue. Under the new rules, the finance ministry halved the extent of tax credits that can be claimed by businesses where the vendors have not uploaded invoices to 5% of their eligible tax credits. The new threshold comes into force on 1 January. The Central Goods and Services Tax (Fourteenth Amendment) Rules, 2020, notified late on Tuesday also tightened the norms to seek GST registration and ensure only genuine companies are registered. The new rule on input tax credit will further squeeze the liquidity of businesses, pushing them to enhance their working capital limits, said Rajat Mohan, senior partner at chartered accountants firm AMRG and Associates.