Tax Guru11d
Recovery of Excess Input Tax Credit Distributed by ISD
Recovery of credit taken based on documents issued by the ‘input service distributor (ISD)’ by subjecting it to scrutiny for ...
Tax Guru11d
All about Input Service Distributor and Manner of Distribution of credit
Input Service Distributor (ISD) [w.e.f. 01/04/2025] The concept of ISD started as a facility made available to businesses having a large share of common expenditure and billing / ...
Bengaluru tax officials arrest lead ingot firm director in Rs 44.8 crore GST evasion
Bengaluru, detected GST evasion by a lead ingot manufacturer and arrested its director. The accused entity, in collusion with ...
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 ...
LiveLaw11d
Notification Cannot Be Given Retrospective Effect To Deny Refund On Unutilised ITC Claimed Within Limitaiton Period: Madras HC Allows Gillette's Plea
Finding that the refund claim was filed within two years from the “relevant date” as defined in Explanation 2(a) to Section 54(14) of CGST Act , the Madras High Court recently clarified that ...
FICCI, Assocham seek input tax credit under CGST on commercial properties meant for leasing purposes
Industry bodies FICCI and Assocham have demanded that real estate developers should be allowed to claim Input Tax Credit ...
Supreme Court rules businesses can rectify tax errors without penalty
Supreme Court directs CBIC to re-examine tax return error provisions, reinforcing principle that buyers shouldn't be penalized for supplier errors.