Tata Steel received a show-cause notice along with a tax demand from the Officer of the Commissioner (Audit) of Central Tax, ...

The time limit for availing of input tax credit. GST mandates availment of ITC pertaining to a financial year till 30 November of the subsequent year or the date of annual return, ...

GST Input Tax Credit: According to the Central Board of Indirect Taxes and Customs (CBIC), ITC is a mechanism to avoid the “cascading of taxes” or “tax on tax.” ...

In the notice, the DGGI said: “An amount of Rs 27.2 crore is availed as input tax credit fraudulently by BTPL in various states without receipt of goods, services and in contravention of the Act ...

Input Tax Credit: New GST refund rules create confusion as deadline to file first returns comes close GST: Taxpayers will begin filing their first GST returns under the new rule from next week.

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, ...

Input tax credit on menu: Food Services sector seeks input tax credit in upcoming budget The industry is in favour of an optional structure that allows collection of input tax credit, at a higher rate ...