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, ...

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.” ...

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.

The state goods and services tax (GST) department has set November 30 as the last date for recording input tax credit for 2022-23 and for correcting any anomalies in tax filings. Learn more about ...

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

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 ...

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, ...

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 ...