Input Tax Credit is the soul of GST, designed to make taxation fair and efficient. While the idea is robust, the practical implementation has been marred by restrictions, compliance hurdles, and ...
Understand the implications of GST rate changes on outward supplies, input tax credit, and tax liability. Learn how to handle billing, credit notes, and ...
The GST Council’s shift to a two-slab system may look consumer-friendly with lower rates, but denial of Input Tax Credit (ITC ...
Explore India's 2025 GST rate changes under GST 2.0—simplified tax slabs, reduced rates on essentials, and a new 40% luxury ...
Starting September 22, insurers can't claim input tax credit (ITC) on GST paid for commissions on individual health and life ...
The new Goods and Services Tax (GST) regime, effective from September 22, may delay the availability of cheaper homes, as per ...
Health and life insurance premiums are exempt from the 18% Goods and Services Tax (GST), bringing relief of up to Rs 3,050 ...
The circular addresses doubts raised by industry stakeholders regarding how such discounts affect Input Tax Credit (ITC) and ...
Coal Ministry reforms aim to rationalize tax burden, eliminate compensation cess, and address inverted duty anomalies for ...
The government has said hotels must charge a 5 percent goods and services tax (GST) without Input Tax Credit (ITC) for ...
Mumbai: The All India Organisation of Chemists and Druggists (AIOCD), representing over 1.25 million chemists and ...
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