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) ...

Understand this with an example. Hypothetically ... the government gives them ITC for GST paid on these two. Hence, the life insurer’s final GST liability will come down to just Rs 9 (Rs ...

Britannia Industries Ltd rose 3%, Godfrey Phillips India Ltd 9%, ITC Ltd 6%, and Hindustan Unilever ... around 4% year-on-year (based on a rolling sample) for FMCG firms that have declared their ...

The budget 2025, presented by Union finance minister Nirmala Sitharaman, focused on boosting consumption by providing tax breaks to the middle class—a welcome relief for the sector facing sluggish ...

India Inc anticipates simplified tax laws, reduced litigation, and progressive policies in Budget 2025, with the ...

Examples of Exempted Services Solid Waste Management ... Yes, businesses can claim Input Tax Credit (ITC) on GST for labour charges if the service is used for business purposes and complies with GST ...

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 ...

The case pertains to Section 17(5) of the GST Act which limits the eligibility for Input Tax Credit (ITC) for any item listed under the section. Read more on the proposed amendment here.