The review petition filed by the Finance Ministry is expected to come for hearing by end of February, when the apex court may ...

India may soon mandate the invoice management system for large transactions to curb tax evasion and enhance GST compliance.

A new Budget amendment necessitates suppliers to ensure buyers reverse input tax credits (ITC) before claiming adjustments ...

The Directorate General of GST Intelligence (DGGI) has busted an allegedly bogus Input Tax Credit (ITC) claims fraud of Rs ...

Insurers argue that a complete exemption will lead to denial of input tax credit and the increased costs will have to be ...

A ministerial panel is considering a 5% GST with input tax credit on term insurance plans. The panel, headed by Bihar deputy ...

The government's retrospective amendment to the Finance Bill 2025 overrides the Supreme Court's ruling from October 2024, ...

Authorities have busted a Goods and Services Tax (GST) evasion racket involving a fraudulent input tax credit (ITC) scam of ...

Implications for Recipients: The responsibility of reversing the ITC lies with the recipient. Upon acceptance of a credit note, the supplier’s tax liability decreases, and the recipient’s GSTR 2B is ...

Fintech company Infibeam Avenues has received a tax demand and penalty notice totalling INR 32 Cr from Gujarat GST authorities.