You sell the furniture made for Rs 1 lakh and levy 18 per cent GST amounting to Rs 18,000 from your customer. The revenue made by selling the furniture by you is Rs 1.18 lakh. Under ITC ...

Philips explains: "Based on the flow chart above, let's consider the ... and the figure starts reflecting in the GST returns, the ITC will still not be available to the dealer, as the time limit ...

Illustration: Dominic Xavier/Rediff.com Industry fears that the Goods and Services Tax (GST) Council’s decision to further restrict input tax credit (ITC) on invoices not uploaded in the ...