New GST Rule From April 1: What Is Input Tax Credit - Right Or Obligation? Expert Decodes
The Goods and Services Tax (GST) was implemented in July 2017 and multi-state GST registrations have been facing confusion regarding the process for distributing common input tax credits (ITC) availed ...
Tax Guru4d
GST ITC on Construction of Immovable Properties: Key Changes
Always puzzled and novice when comes to the GST ITC (Input Tax Credit) on goods or service or both used for construction of immovable properties when such properties are used in in the course or ...
Tax Guru4d
Whether GST Registration Mandatory for Persons Making Export of Services?
Section 24 (i) specifically mandates compulsory registration by a person making inter- state taxable supply. The term or ...
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A full GST exemption on life insurance premiums could mean more expensive premiums for policyholders. Here’s why?
But, in addition to collecting this GST, life insurers are also entitled to something called an input tax credit (ITC ... charge this to the end consumer, meaning potentially a higher premium ...
Investopedia4y
Harmonized Sales Tax (HST): Definition as Canadian Sales Tax
Investopedia / Michela Buttignol Canada’s harmonized sales tax (HST) is a consumption tax paid by local consumers and businesses. It combines the federal goods and services tax (GST) and sales ...
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GST Council likely to reduce tax rate on food delivery to 5% | What it means
The GST Council might bring a cheer for food ... it is also very unlikely as not being able to avail input tax credits (ITC) might mean even higher payment of taxes in some cases for the companies.