ET Auto10mon
INPUT TAX CREDIT
The CBIC has clarified that automobile dealers can claim input tax credit (ITC) under GST for demo cars used to promote sales. However, ITC is not available if these vehicles are used for personal ...
JD Supra6d
Tax Court of Canada Denies GST/HST Input Tax Credit Claims in Connection with a Settlement Payment
In a general procedure hearing that was later moved under the informal procedure rules and rendered on December 17, 2024, the ...
Business Insider India3y
OPINION: GST Input Tax Credit changes from January 1 – Things to ask your vendor, how to protect your ITC and more
The new year 2022 is going to bring a significant change in the manner of availing Input Tax Credit ... any ITC on their supplies. Unless the suppliers report their supplies over the GST portal ...
The Financial Express6y
GST update: FinMin issues clarification on last day of availing Input Tax Credit; here’s what you must know
The Finance Ministry on Thursday clarified that the last date for availing Input Tax Credit (ITC) under the Goods and ... from erstwhile tax regime to GST regime vide notification No.47/2018 ...
Hosted on MSN3mon
No input tax credit if e-invoice not uploaded in GST portal within 30 days: New rule soon
Under GST law, businesses (suppliers/sellers ... preventing the recipient from claiming input tax credit (ITC). This can also disrupt business operations as recipients and transporters may ...
Indiatimes11d
Input tax credit removal set to hit commercial realty companies
Input tax credit (ITC) helps reduce the tax outgo for the GST payer. A retrospective amendment, which comes into effect from July 1, 2017, debars entities, such as commercial real estate companies ...
moneycontrol.com8d
Life insurers oppose GST exemption on term insurance, flag input tax credit concerns
Life insurance companies have opposed a proposal to exempt term insurance premiums from goods and services tax (GST), saying the move would block input tax credit (ITC) and result in higher costs ...
Hindustan Times1mon
Input tax credit: GSTR-2B statement delayed by 2 days, use recompute option
The GSTR-2B (input tax credit) statement will now be ... is an important document which allows buyers to claim Input Tax Credit (ITC). The draft GSTR-2B form will be automatically generated ...
Indiatimes11d
GST rules for credit notes tightened to stop leakage
A new Budget amendment necessitates suppliers to ensure buyers reverse input tax credits (ITC) before claiming adjustments ... mentioned an incorrect higher GST rate. A credit note is also issued ...
The Financial Express11d
Zee Entertainment hit with Rs 16.56 million GST demand—Here’s what will happen next
receives a Goods and Services Tax (GST) notice alleging discrepancies in Input Tax Credit (ITC) claims, the company typically has the option to file an appeal under Section 107 of the Central ...
The Free Press Journal5d
Vedanta Hit With ₹141.36 Crore GST Penalty Over Ineligible ITC Claims; Plans Legal Challenge
Global mining conglomerate Vedanta Ltd was hit with Goods and Services Tax (GST) penalties of Rs 141.36 crore for alleged ineligible Input Tax Credit (ITC) availment on Saturday. The Mumbai listed ...