A full GST exemption on life insurance premiums could mean more expensive premiums for policyholders. Here’s why?
At present, a high GST rate of around 18% on life and health insurance premiums makes plans too costly, which leads to many people potentially forgoing proper insurance coverage. But if both life and ...
Tax Guru24y
Retrospective Cancellation of Supplier’s GST Registration Doesn’t Invalidate Recipient’s ITC Claim: Calcutta HC
Whether the Show Cause Notice (SCN) issued under Section 74 of the CGST and WBGST Act is valid, given the petitioners’ claims that they fulfilled all requirements for ITC and the suppliers’ GST ...
Tax Guru16d
AP HC Confirms ITC Entitlement under Circular No. 237/31/2024-GST
The petitioner sought several reliefs, including the annulment of orders passed by the Assistant Commissioner, particularly the GST DRC-07 and the Order-in-Original No. 30/2023, which confirmed the ...
Business Insider India3y
OPINION: GST Input Tax Credit changes from January 1 – Things to ask your vendor, how to protect your ITC and more
The additional condition to avail ITC ... in Form GSTR-2B. Basically, a buyer will not get credit for the tax paid if the supplier does not upload the invoice and file returns on the GST portal ...
The Free Press Journal5d
Vedanta Hit With ₹141.36 Crore GST Penalty Over Ineligible ITC Claims; Plans Legal Challenge
Global mining conglomerate Vedanta Ltd was hit with Goods and Services Tax (GST) penalties of Rs 141.36 crore for alleged ineligible Input Tax Credit (ITC) availment on Saturday. The Mumbai listed ...