Utilizing input tax credit reduces the GST liability for the sale of goods or services by the registered person. Previously, businesses had the option to utilize either the ISD mechanism or the ...

The government has made the ISD mechanism mandatory, effective April 1, 2025. This means that the distribution of common ...

The Goods and Services Tax (GST ... distributing common input tax credits (ITC) availed on services to lower net GST liability since then. Due to this confusion, some entities have opted for the input ...

as its input tax credit mechanism incentivises businesses to report transactions accurately. GST provides a major source of fiscal revenue that supports various developmental and welfare projects ...

A slate of bills in the General Assembly could unravel the state’s aggressive climate goals, contradicting Gov. Wes Moore’s ...

Currently, there is no mechanism to track whether the Input Tax Credit (ITC) on such discounts has been reversed or not. Till the time a functionality is made available on the common portal to enable ...

The mechanism is meant to simplify the credit taking process for entities and the ISD provisions have become mandatory, w.e.f. from 1st April, 2025 vide Notification No. 16/2024-Central Tax dated 6th ...

framework in India includes various mechanisms to ensure seamless tax credit flow across different branches of a business. One such mechanism is the Input Service Distributor (ISD). An ISD is a ...

Specifically, in the second half of 2024, we announced the divestment of OCI Methanol to Methanex and completed the ...