Nitin Kumar bought a flat in an under construction project and pays 12% effective Goods and Services Tax (GST) every time he pays an instalment. He has not been able to avail the benefit of the input ...

The meaning of ITC can be easily understood when we take the words ‘input’ and ‘tax credit into consideration’. Inputs are materials or services that a manufacturer purchases in order to manufacture ...

NEW DELHI: The government should allow commercial real estate developers to set off GST paid on inputs like cement from the tax liability on rental income to avoid double taxation and give a boost to ...

A ministerial panel chaired by Bihar deputy chief minister Sushil Modi has worked out a new simplified model for goods and services tax (GST) return filing as per which input tax credit could be given ...

As GST is a single tax levied across India right from the manufacture of goods/ services till it reaches the end customer, the chain does not get broken and everybody is able to take benefit of the ...

Sushil Modi said only 3.3 lakh taxpayers had filed the summary return, GSTR-3B, for the month of August, just five days before the deadline ends on September 20. (Twitter) In the first month under the ...

Starting April 1, a significant change is imminent in the GST system with the enforcement of the Input Service Distributor (ISD) mechanism. This mandatory alteration is designed to ensure that state ...

Director general of GST Intelligence (DGGI), Hyderabad, has served a show-cause notice on Bundl Technologies Private Limited (BTPL), which operates food delivery app Swiggy, for alleged wrongful ...

The government’s recent circular has brought clarity on trade discounts and credit notes under the GST regime, but has shifted compliance obligation and cash-flow pressure onto FMCG distributors, ...

The recovery rate in Goods and Services Tax (GST) cases pertaining to input tax credit (ITC) fraud has gone up significantly in FY24, with the Directorate General of GST Intelligence(DGGI) recovering ...