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 ...
Tax Guru4h
SC & Bombay HC Uphold Right to Rectify Bonafide GST Error
Supreme Court & Bombay High Court Uphold Right to Rectify GST Errors: Bonafide Buyers Entitled to ITC Even if Not Reflected ...
Supreme Court upholds buyers can correct clerical errors in GST filings without penalty, claim ITC
In a significant ruling that promises ease of compliance to taxpayers under the goods and services tax, the Supreme Court has ...
Restaurant services in hotels with room rent above Rs 7,500/day fall under 18 pc GST: CBIC
Hotels charging room rent above Rs 7,500 a day will be considered 'specified premises' from April 1, 2025. Restaurant ...
New GST rule: Input Service Distributor mechanism takes effect from April 1; details here
The Input Service Distribution (ISD) mechanism will enable businesses with branches in multiple states to consolidate ...
SC junks CBIC plea, says GST errors can be corrected even after deadline
The Supreme Court further emphasised that denying ITC due to human errors results in unfair double taxation, where businesses ...
Tax Guru2d
Patna HC Allows Rectification of ITC Claim Under GST
Patna High Court addressed a dispute regarding the denial of input tax credit (ITC) to Platinum Ispat Industries Pvt. Ltd. for the months of January to March in the assessment year 2018-19. The ...
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 ...
Parliamentary panel flags issues faced by MSMEs, exporters under GST; suggests easier compliance, fast tracking refunds
In its report presented to Parliament on Wednesday, the Committee also underlined the need for a dedicated fast-track refund ...
The Financial Express4d
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 pure term life insurance policies.
Restaurant services in hotels with room rent above ₹7,500/day fall under 18 pc GST: CBIC
New Delhi, Mar 27 (PTI) Hotels charging a room rent above ₹ 7,500 a day at any time in any financial year will be considered 'specified premises' for the next fiscal and restaurant services provided ...