As India marks eight years of GST, businesses urge reforms to boost working capital efficiency. A Deloitte survey reveals ...

Understand the complexities of GST on IPOs and OFS in India, including debates over Input Tax Credit reversal, the ...

In a significant ruling with far-reaching policy implications, the Sikkim High Court has allowed the refund claim of accumulated input tax credit (ITC) upon the closure of a business. This ...

SWIFT messages and input tax recovery Effective January 1, 2023, input credit of VAT paid under RCM (on goods and services) is allowed on ‘receiving’ and retaining invoices.

As an entrepreneur, every rupee saved is a rupee earned. Managing business expenses wisely is crucial, and leveraging the Input Tax Credit (ITC) system under GST can significantly reduce your tax ...

To prevent the aggregation of Input Tax Credit (ITC) for services utilised at various sites under a single location and guarantee the accurate distribution of ITC to the actual consumption sites ...

According to Samsuddha Majumder, Partner (Tax Practice) at Trilegal, broadly speaking, input tax credit is distributed in proportion of the turnover of each such branch.

Hospitality in India extends beyond providing a roof to sleep under for a certain sum of money. It starts from the time one arrives at the doorstep and extends way beyond, after one has checked ...

What is RCM under GST? Understanding the Goods and Services Tax (GST) is crucial for business owners to ensure compliance and avoid penalties. One important aspect of GST is the Reverse Charge ...

Input Tax Credit (ITC) has long been a complex terrain for businesses navigating the intricate world of Goods and Services Tax (GST). For enterprises, an accurate input tax credit claim is not ...

The buyer loses pending input tax credit for FY 2023-24 if GSTR-3B is not filed by November 30, 2024 November 30, 2024, is ...