During the meeting of the GoM, it was pointed out that as much as 80% of the total GST liability is being settled by ITC and only 20% is deposited as cash. According to sources, availing ITC ...

All these got an input tax credit, a facility to set off tax paid on inputs with final tax. The GST Council later in November 2017 withdrew the ITC facility and levied a uniform five per cent tax ...

Mumbai: Shares of cigarette companies jumped on Friday with the government keeping tax rates on tobacco products unchanged under the new goods and services tax (GST) structure. ITC Ltd jumped 6.51 ...

New Delhi, Jan 27 (PTI) Concerned over a decline in GST revenues, tax officials are likely to examine the high usage of input tax credit (ITC) to set off tax liability by businesses, sources said.

All these got an input tax credit, a facility to set off tax paid on inputs with final tax. The GST Council later in November 2017 withdrew the ITC facility and levied a uniform five per cent tax ...

New Delhi, Jan 27 () Concerned over a decline in GST revenues, tax officials are likely to examine the high usage of input tax credit (ITC) to set off tax liability by businesses, sources said.

NEW DELHI: The government is open to looking into the restaurant industry demands of going back to a higher GST rate, along with the benefit of the tax credit on their inputs, Revenue Secretary ...

The issue of high ITC was flagged at the meeting of the Group of Ministers (GoM) which was set up by the GST Council to look into the reasons for revenue shortfall being faced by a large number of ...

During the meeting of the GoM, it was pointed out that as much as 80 per cent of the total GST liability is being settled by ITC and only 20 per cent is deposited as cash. GST revenue has averaged ...