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 ...
PhilStar Global on MSN20h
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 ...
JD Supra3d
Tax Court of Canada Denies GST/HST Input Tax Credit Claims in Connection with a Settlement Payment
In a general procedure hearing that was later moved under the informal procedure rules and rendered on December 17, 2024, the ...
Tax Guru4d
Landmark Judgements of SC on Input Tax Credit for Construction Under GST
Input Tax Credit is Not Restricted if the Construction of Premises Satisfies the Functional Utility Test and is Germane to Business In the case of Chief Commissioner of Central Goods and Services Tax ...
Centre's retrospective GST amendment in Budget 2025 may face legal scrutiny
The review petition filed by the Finance Ministry is expected to come for hearing by end of February, when the apex court may ...
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 ...
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, ...
Big Brother watching: Optional GST invoice reconciliation to be made mandatory
India may soon mandate the invoice management system for large transactions to curb tax evasion and enhance GST compliance.
Vedanta Hit With ₹141.36 Crore GST Penalty Over Ineligible ITC Claims; Plans Legal Challenge
Global mining conglomerate Vedanta Ltd was hit with Goods and Services Tax (GST) penalties of Rs 141.36 crore for alleged ...