GST officers have busted a network of 46 fake firms which used to generate fake invoices and fraudulently avail input tax credit (ITC) worth Rs 82.23 crore, the finance ministry said on Tuesday.

As part of its drive against fake billing operations, the Central Goods and Services Tax (CGST) Commissionerate, Delhi, has unearthed a multi-layered network of fictitious firms generating and ...

A Mysuru-based scrap dealer has been arrested on the charges of issuing fake invoices to the tune of Rs 14 crore tax amount. The central GST commissionerate has launched a probe to find out the ...

Tata Steel has received a show cause notice from tax authorities regarding an alleged irregular availment of input tax credit amounting to Rs 1,000 crore between FY19 and FY23. The notice, issued ...

This means an assessee will get input tax credit (ITC) only to the extent of invoices matched. For each and every assessee, the system calculates ITC based on returns filed by her/his supplier.

MUMBAI: Availability of credit for taxes paid on inputs - be it goods, such as raw material, or services for setting off against Goods and Services Tax (GST) liability plays an important role in ...

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. The draft ...

Can input tax credit be availed on GST paid for hiring vehicles for employees? Find out The AAR in its ruling said since the applicant failed to cite any law under which the service of providing ...

Farmers and biofuel producers should tell the U.S. Department of Agriculture in the next 30 days how to improve its assessment of climate-friendly farm practices as the administration finalizes a ...

Budget 2024: Telecom infra providers bat for availability of input tax credit The players under the aegis of Digital Infrastructure Providers' Association (DIPA) said measures to facilitate ease ...

Politicians and companies aren't happy — According to The Detroit News, General Motors, which is also affected by the ending of this federal tax credit, slammed the ending of the program.