In this article, we differentiate the credit note issued for B2B supply Vs B2C supply and how to deal with credit note issued under GST; Now, the functionality/ facility of invoice management system ...

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

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 ...

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 ...

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

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.

Government standardizes GST at 18% for all used vehicle transactions, impacting organized industry players' finances and ...

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

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 ...