The time limit for availing of input tax credit. GST mandates availment of ITC pertaining to a financial year till 30 November of the subsequent year or the date of annual return, ...

The Assistant Commissioner of State Tax, Ahmedabad, has imposed a penalty of Rs 1,30,40,966 on the airline. In a regulatory filing, IndiGo said the tax officer has denied input tax credit availed ...

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, ...

GST Input Tax Credit: According to the Central Board of Indirect Taxes and Customs (CBIC), ITC is a mechanism to avoid the “cascading of taxes” or “tax on tax.” ...

GST: Buyers will not be able to claim input tax credit (ITC) if specified sellers or suppliers do not upload the e-invoice ...

The GSTR-2B (input tax credit) statement will now be generated two days later on Thursday, January 16, from the originally scheduled date of January 14, for the December 2024 tax period.

It’s prompting some to raise eyebrows, but the commission is encouraging input from the public. The refundable tax credits, based on income, are up to $7,500 for private school or $1,000 for ...

Input tax credit on menu: Food Services sector seeks input tax credit in upcoming budget The industry is in favour of an optional structure that allows collection of input tax credit, at a higher rate ...

Panaji: The seven-member group of ministers (GoM) tasked with boosting the country’s real estate sector has been asked to allow builders to claim input tax credit (ITC). This will not only ...

GST Input Tax Credit on capital goods: How to claim, meaning, depreciation; all you need to know Any goods (including capital goods) and any input services used or intended to be used by a ...

Businesses can claim input tax credit on items, such as gold coins and white goods, procured for distribution to dealers upon achieving pre-specified sales targets as part of promotional schemes, a ...

House Republicans say Democrats ignored their input when writing the Inflation Reduction Act’s biofuel credits in 2022. Now the GOP says it’s working on a plan to fix them.