The CBIC has clarified that automobile dealers can claim input tax credit (ITC) under GST for demo cars used to promote sales. However, ITC is not available if these vehicles are used for personal ...

GSTR-2B (Input tax credit statement) to be uploaded 2 days late on January 16, 2025 for December 2025 tax period ...

Prior to Union Budget 2025, stakeholders from the travel and hospitality sector put forth their demands and expectations from ...

One of the many tax terms that may be hard to understand is a "federal tax credit." In simple terms, this type of credit is a benefit offered by the government to help reduce your tax liability.

At its 55th meeting held in Jaisalmer on December 21, the Council clarified the process to avail input tax credit even if this stoked some controversy over the manner in which the Council neutralised ...

Noted that, Section 73 of the Central Goods and Services Tax Act, is only attracted when it appears to proper officer that any tax has not been paid or short paid or erroneously refunded or where ...