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 ...

In a general procedure hearing that was later moved under the informal procedure rules and rendered on December 17, 2024, the ...

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 ...

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 ...

The Directorate General of GST Intelligence (DGGI) has busted an allegedly bogus Input Tax Credit (ITC) claims fraud of Rs 1,196 crore following raids at multiple locations in Pune, Delhi ...

The Directorate General of GST Intelligence (DGGI) has unearthed fraudulent Input Tax Credit (ITC) transactions amounting to ₹1,196 crore by exposing a network of bogus companies and arrested a ...

The investigation has revealed a sophisticated network of bogus companies engaged in fraudulent Input Tax Credit (ITC) transactions ... rotated to obtain new GST registrations and evade detection.

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 ...

The latest demand imposes a GST liability of Rs 7.47 crore, including tax and penalty, for allegedly availing wrongful input tax credit (ITC) for FY 2017-18, the parent company of Paytm informed ...