Under GST norms, enterprises are allowed credits in input tax on purchases meant for outputs, which they can claim in the ...

The time limit for availing of input tax credit. GST mandates availment of ITC pertaining to a financial year till 30 November of the subsequent year or the date of annual return, ...

Industry bodies FICCI and Assocham have urged the finance ministry to allow input tax credit (ITC) for real estate developers ...

In the notice, the DGGI said: “An amount of Rs 27.2 crore is availed as input tax credit fraudulently by BTPL in various states without receipt of goods, services and in contravention of the Act ...

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, ...

Starting April 1, GST system is set to witness a major change as Input Service Distributor (ISD) mechanism will be made mandatory. Experts say such a change aims to ensure that state governments ...

It would be pertinent to note that the draft GST bill had envisaged provision of the input tax credit on telecom towers; however, this provision was removed in the GST Act, 2017," he said.

Input Tax Credit: New GST refund rules create confusion as deadline to file first returns comes close GST: Taxpayers will begin filing their first GST returns under the new rule from next week.

It opined that the explanation of the rule, which denies the refund of ‘unutilised input tax’ paid on ‘input services’ as part of ‘input tax credit’ accumulated on account of inverted ...

The GSTR-2B (input tax credit) statement will now be generated two days later on Thursday, January 16, from the originally scheduled date of January 14, for the December 2024 tax period.