FICCI and Assocham urge the finance ministry to allow Input Tax Credit (ITC) for real estate developers on commercial assets ...

The Central GST ... Credit fraudulently resulting in a loss of near about ₹100 crore to the Government exchequer”. The Commissionerate said its investigation revealed that the “fake” firm “had engaged ...

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 ...

The government’s proposal to amend the Finance Bill 2025 with respect to input tax credit (ITC) on construction expenses for leased properties is expected to impact real estate developers of ...

A new Budget amendment necessitates suppliers to ensure buyers reverse input tax credits (ITC) before claiming adjustments when issuing a credit note. This change aims to prevent revenue leakage ...

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 ...

Here are some key highlights of GST: GST is levied at each production and distribution stage, allowing input tax credits to offset previous payments. Ultimately, consumers bear the tax embedded in ...

Kerala High Court granted bail to Nassar, accused of fraudulently availing Input Tax Credit (ITC) under the GST Act by using invoices from dummy registrants without actual receipt of goods. Arrested ...

Shares of ITC Hotels fell in debut trade on Wednesday, following its spin-off from consumer goods firm ITC, valuing the luxury hotels operator at 364.2 billion rupees ($4.21 billion). The stock listed ...

New Delhi [India], January 28 (ANI): Just days ahead of the Union Budget 2025 on February 1, the infrastructure sector players are calling for GST rationalisation, tax incentives for green ...

GST on raw materials and intermediates (API, excipients, and packaging materials) ranges from 12% to 18%, while the final output (finished drugs) is taxed either at 5% or 12%. This mismatch causes an ...