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 ...
Availability of ITC on construction costs has been restricted retroactively from July 1, 2017, impacting commercial real ...
Input Tax Credit is Not Restricted if the Construction of Premises Satisfies the Functional Utility Test and is Germane to Business In the case of Chief Commissioner of Central Goods and Services Tax ...
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.
In a general procedure hearing that was later moved under the informal procedure rules and rendered on December 17, 2024, the ...
Insurers argue that a complete exemption will lead to denial of input tax credit and the increased costs will have to be ...
The government's retrospective amendment to the Finance Bill 2025 overrides the Supreme Court's ruling from October 2024, ...
The new year 2022 is going to bring a significant change in the manner of availing Input Tax Credit (ITC) by the taxpayers under the Goods and Services Tax Act. The additional condition to avail ...
PhilStar Global on MSN1d
A look back: A company’s claim for input VATSection 110(A) of the Tax Code, as amended, identifies the transactions creditable against output tax. Among the transactions are the purchase or importation of goods for sale, for conversion into or ...
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