PhilStar Global on MSN7h
A look back: A company’s claim for input VAT
Section 110(A) of the Tax Code, as amended, identifies the transactions creditable against output tax. Among the transactions are the purchase or importation of goods for sale, for conversion into or ...
Hosted on MSN27d
2 days delay in input tax credit: Buyers will have to wait longer for GSTR-2B statement; use recompute option in this case
In this new advisory by GSTN, buyers have been asked to use the ‘recompute’ feature ... the IMS portal can be used to claim lesser input tax credit by eliminating certain purchases but new ...
Hindustan Times26d
Input tax credit: GSTR-2B statement delayed by 2 days, use recompute option
The GSTR-2B (input tax credit) statement will now be generated ... after the buyer has generated his GSTR-2B, the buyer has to use the ‘recompute’ option to generate the updated GSTR-2B.
Indiatimes7d
Input tax credit removal set to hit commercial realty companies
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, such as commercial real estate companies ...
Life insurers oppose GST exemption on term insurance, flag input tax credit concerns
Insurers argue that a complete exemption will lead to denial of input tax credit and the increased costs will have to be ...
Tax Guru10d
Kerala High Court Grants Bail in GST Input Tax Credit Case
Kerala High Court granted bail to Nassar, accused of fraudulently availing Input Tax Credit (ITC) under the GST Act by using invoices from dummy registrants without actual receipt of goods. Arrested ...