Input tax credit removal set to hit commercial realty companies
Availability of ITC on construction costs has been restricted retroactively from July 1, 2017, impacting commercial real ...
Life insurers oppose GST exemption on term insurance, flag input tax credit concerns
Insurers argue that a complete exemption will lead to denial of input tax credit and the increased costs will have to be ...
Business Recorder7d
Firms can claim tax on destroyed goods
LAHORE: The sales tax department cannot deny adjustment against raw materials not actually used during the same ...
Retrospective GST input tax credit amendment to impact commercial realty
The government's retrospective amendment to the Finance Bill 2025 overrides the Supreme Court's ruling from October 2024, ...
The Financial Express on MSN10d
Zee Entertainment hit with Rs 16.56 million GST demand—Here’s what will happen next
In situations where a company like Zee Entertainment Enterprises Ltd. (ZEEL) receives a Goods and Services Tax (GST) notice ...
PhilStar Global on MSN4d
A look back: A company’s claim for input VAT
Section 110(A) of the Tax Code, as amended, identifies the transactions creditable against output tax. Among the transactions are the purchase or importation of goods for sale, for conversion into or ...
Tweak in input tax credit may hit realty developers
The government's amendment to the Finance Bill 2025 overrides the Supreme Court's 2024 ruling and disallows input tax credit ...
DGGI probe detects ₹1,196 crore fraudulent Input Tax Credit transactions
DGGI uncovers 1,196 crore tax fraud involving fake invoices, e-way bills, shell entities, and bogus companies.
Directorate General Of GST Intelligence Busts ₹1,196 Crore Fake Input Tax Credit Scam; Raids Uncover Bogus GST Network
The Directorate General of GST Intelligence (DGGI) has busted an allegedly bogus Input Tax Credit (ITC) claims fraud of Rs ...
philstar.com4d
A look back: A company’s claim for input VAT
These instances were especially highlighted in a recently decided 2008 -case, wherein the Supreme Court (SC) have also clarified that creditable input tax should be attributable to the zero-rated ...