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 ...

The Union Budget 2025-26 introduces several amendments to indirect taxes, covering GST and customs. In GST, changes include allowing Input Service Distributors to distribute input tax credit for inter ...

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.

New Jersey residents can now take advantage of IRS Direct File, a free and secure online tool for filing federal and state ...

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 ...

Insurers argue that a complete exemption will lead to denial of input tax credit and the increased costs will have to be ...

The review petition filed by the Finance Ministry is expected to come for hearing by end of February, when the apex court may ...

In a general procedure hearing that was later moved under the informal procedure rules and rendered on December 17, 2024, the ...

Three developers have proposed mixed-use projects on the property. All would include commercial space and housing. One ...

Besides, false tax credit claims and use of shell companies to issue fake ... reduce fraudulent input tax credit claims, and improve accuracy in tax reporting. “IMS will streamline the audit ...

The High Court set aside the cancellation order, allowing restoration of the GST registration, conditional on the petitioner filing all pending returns and paying dues within four weeks. The court ...