New GST Rule From April 1: What Is Input Tax Credit - Right Or Obligation? Expert Decodes
The Goods and Services Tax (GST) was implemented in July 2017 and multi-state GST registrations have been facing confusion regarding the process for distributing common input tax credits (ITC) availed ...
The Financial Express2h
GST relief on insurance: Why 5% tax could be better than a full waiver for consumers
This reduction rather than a complete waiver in GST on gross insurance premium will be beneficial for both policyholders as ...
LiveLaw6d
Assessees Claim For ITC Cannot Be Denied For Being Disadvantageous To State Exchequer: Karnataka HC Clarifies Principles On Input Tax Credit Claims
The Karnataka High Court while laying down vital guidelines on Input Tax Credit stated that if the Assessee during the course ...
Tax Guru6d
Recovery of Excess Input Tax Credit Distributed by ISD
Recovery of credit taken based on documents issued by the ‘input service distributor (ISD)’ by subjecting it to scrutiny for ...
Maximise your savings with input tax credit using a GST calculator
The Input Tax Credit (ITC) allows you to claim credit for the GST paid on business-related purchases. Whether it is raw ...
The Financial Express1d
GST on insurance may be slashed to 5%
The 13-member GoM in its report submitted to the GST Council in December had recommended a GST exemption for premiums paid on ...
Tax Guru5d
All about Input Service Distributor and Manner of Distribution of credit
Input Service Distributor (ISD) [w.e.f. 01/04/2025] The concept of ISD started as a facility made available to businesses having a large share of common expenditure and billing / ...
Mint24d
IndiGo fined ₹1.30 crore related to input tax credit in Gujarat; evaluates legal recourse
"The company believes that it has accurately availed input tax credit and has merits in its case. Accordingly, the company is evaluating necessary legal recourse under the applicable law ...