One crucial aspect of this is claiming your Input Tax Credit (ITC ... for business owners. ITC is like a refund on the GST you have already paid on your purchases. For example, if you have ...
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A full GST exemption on life insurance premiums could mean more expensive premiums for policyholders. Here’s why?“Due to this additional burden (withdrawal of ITC ... GST amount collected by insurers from customers. What is input tax credit in the case of life insurance companies? Understand this with an ...
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Budget 2025 Expectations Real Estate: Realty players seek tax incentives, industry status, revision in home loan rates and moreparticularly after the withdrawal of the GST input tax credit (ITC) set-off. While the initial implementation of GST eased property prices, its subsequent removal has driven up construction costs ...
Additionally, any expenses borne by the service recipient on behalf of the labour supplier must also be included in the value of supply for GST calculation. Let us consider an example where ...
In a general procedure hearing that was later moved under the informal procedure rules and rendered on December 17, 2024, the ...
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 ...
FICCI and Assocham urge the finance ministry to allow Input Tax Credit (ITC) for real estate developers on commercial assets ...
The Directorate General of GST Intelligence (DGGI) has busted an allegedly bogus Input Tax Credit (ITC) claims fraud of Rs 1,196 crore following raids at multiple locations in Pune, Delhi ...
The Directorate General of GST Intelligence (DGGI) has unearthed fraudulent Input Tax Credit (ITC) transactions amounting to ₹1,196 crore by exposing a network of bogus companies and arrested a ...
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