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2 days delay in input tax credit: Buyers will have to wait longer for GSTR-2B statement; use recompute option in this case
Experts say GSTR-2B is a critical document that allows buyers to claim Input Tax Credit (ITC). Unless the suppliers updates it accurately the buyer can not claim input tax credit. GSTN said the ...
Business Insider India3y
OPINION: GST Input Tax Credit changes from January 1 – Things to ask your vendor, how to protect your ITC and more
The new year 2022 is going to bring a significant change in the manner of availing Input Tax Credit (ITC) by the taxpayers under the Goods and Services Tax Act. The additional condition to avail ...
Hindustan Times1mon
Input tax credit: GSTR-2B statement delayed by 2 days, use recompute option
The GSTR-2B (input tax credit) statement will now be generated two days later on Thursday, January 16, from the originally scheduled date of January 14, for the December 2024 tax period.
Indiatimes11d
Input tax credit removal set to hit commercial realty companies
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 ...
moneycontrol.com9d
Life insurers oppose GST exemption on term insurance, flag input tax credit concerns
Life insurance companies have opposed a proposal to exempt term insurance premiums from goods and services tax (GST), saying the move would block input tax credit (ITC) and result in higher costs ...