A new Budget amendment necessitates suppliers to ensure buyers reverse input tax credits (ITC) before claiming adjustments ...

BENGALURU: Goods and Services Tax (GST) is crucial for revenue collection, compliance, and economic growth. The Finance Bill ...

The government has clarified that no bank, NBFC, regulated entities (REs) can charge Goods and Services Tax (GST) on penal ...

This means on or before February 11, 2025 when you file GSTR-1 the specified new rules ... for GST registered persons. Here's a summary of what they said: Buyer's input tax credit will now be ...

Budget introduces significant amendments to the CGST Act, 2017. The definition of Input Service Distributor (ISD) under Section 2(61) is revised to facilitate ITC distribution for inter-state supplies ...

Input Service Distribution or ISD in not a new concept in India, its familiarity dates back to the Service Tax Era. The Service Tax law upheld the principle that credits relating to any input service ...

Popcorn at the movies, second-hand cars, and even pre-packed snacks - GST in India has sparked endless debates. However, the ...

Finance Minister Nirmala Sitharaman on Saturday announced changes in the Goods and Services Tax (GST) laws under the Union ...

Also, 5-star hotels with room tariff of ₹7500 or more can levy 5 per cent GST in restaurants located insider their premise, but only without claiming Input Tax Credit (ITC) While, the new ...

As Union Budget 2025 approaches, real estate stakeholders are urging the government to introduce key reforms, particularly in ...

This move could significantly reduce the cost burden on airlines, as ATF constitutes nearly 40 per cent of their operational ...