There is no legal restriction on the time of issuing a credit note; however, it must be reported in GST returns within a specified period, typically by November 30 of the following financial year or ...

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 ...

The Input Tax Credit (ITC) allows you to claim credit for the GST paid on business-related purchases. Whether it is raw ...

The Input Service Distribution (ISD) mechanism will enable businesses with branches in multiple states to consolidate ...

In a significant ruling that promises ease of compliance to taxpayers under the goods and services tax, the Supreme Court has ...

Recovery of credit taken based on documents issued by the ‘input service distributor (ISD)’ by subjecting it to scrutiny for ...

Under the revised framework, “specified premises” refer to hotels or properties where the per-night room rate exceeded ₹7,500 in the previous financial year.

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.

Hotels charging room rent above Rs 7,500 a day will be considered 'specified premises' from April 1, 2025. Restaurant ...

The Supreme Court further emphasised that denying ITC due to human errors results in unfair double taxation, where businesses ...

The government is introducing the Input Service Distributor (ISD) system from April 1, 2025, to improve tax collection on ...

In its report presented to Parliament on Wednesday, the Committee also underlined the need for a dedicated fast-track refund ...