It may be noted that GST rate on hotel accommodation depends on the amount paid per room accommodation per day. Presently from 18.7.2022 onwards, GST is 12% for a room in a hotel which would cost upto ...
Summary: The eligibility of Input Tax Credit (ITC) on construction of immovable property under Sections 17(5)(c) and 17(5)(d) ...
Unless the suppliers report their supplies over the GST portal aptly and the same is visible in their auto drafted GSTR-2B, the ITC on such supplies will not be available to the recipient even if ...
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 ...
The current GST regime poses significant challenges for the real estate sector, particularly due to the lack of Input Tax Credit (ITC). Developers are unable to claim ITC on materials like cement and ...
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 ...
InterGlobe Aviation Ltd (IndiGo) says it has fined Rs115.86 crore by goods and service tax (GST) authorities from Delhi and ...
A 5 per cent GST rate ensures that the manufacturer is able to utilise ITC and in case of overflow of ITC, claim refund. Hence exemption to vaccine from GST would be counterproductive without ...
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