Input tax credit removal set to hit commercial realty companies
Availability of ITC on construction costs has been restricted retroactively from July 1, 2017, impacting commercial real ...
ET Auto9mon
INPUT TAX CREDIT
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 ...
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2 days delay in input tax credit: Buyers will have to wait longer for GSTR-2B statement; use recompute option in this case
Experts say GSTR-2B is a critical document that allows buyers to claim Input Tax Credit (ITC). Unless the suppliers updates it accurately the buyer can not claim input tax credit. GSTN said the ...
Retrospective GST input tax credit amendment to impact commercial realty
The government's retrospective amendment to the Finance Bill 2025 overrides the Supreme Court's ruling from October 2024, ...
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Zee Entertainment hit with Rs 16.56 million GST demand—Here’s what will happen next
In situations where a company like Zee Entertainment Enterprises Ltd. (ZEEL) receives a Goods and Services Tax (GST) notice ...
Hindustan Times22d
Input tax credit: GSTR-2B statement delayed by 2 days, use recompute option
The GSTR-2B (input tax credit) statement will now be generated two days later on Thursday, January 16, from the originally scheduled date of January 14, for the December 2024 tax period.
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 passed on to the consumers, negating the intended benefit of exemption ...
Business Insider India3y
OPINION: GST Input Tax Credit changes from January 1 – Things to ask your vendor, how to protect your ITC and more
The new year 2022 is going to bring a significant change in the manner of availing Input Tax Credit (ITC) by the taxpayers under the Goods and Services Tax Act. The additional condition to avail ...
One arrested for availing fake input tax credit of ₹227 crore
CGST Commissionerate arrests person for ₹227 crore fake input tax credit fraud, passed on credit to own units.