Tax Guru12h
All about Input Service Distributor and Manner of Distribution of credit
Input Service Distributor (ISD) [w.e.f. 01/04/2025] The concept of ISD started as a facility made available to businesses having a large share of common expenditure and billing / ...
Republic Business on MSN15h
New GST Rule April 1 Onwards: 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 ...
New GST rule from April 1, 2025: ISD mandatory for input tax credit; not following will lead to ITC denial, minimum penalty of Rs 10,000
GST: The government has made the ISD mechanism mandatory, effective April 1, 2025. This means that the distribution of common ...
Tax Guru1d
Recovery of Excess Input Tax Credit Distributed by ISD
Recovery of credit taken based on documents issued by the ‘input service distributor (ISD)’ by subjecting it to scrutiny for eligibility thereof at recipient unit; Section 2 (61) of CGST defines ...
Western Australia’s political ransom over GST rort must end
Australia’s continuing failure to divide federal funds equitably looks even more ridiculous in light of WA running budget surpluses of $3.5 billion a year while eastern states face deep budget ...
Tax Write-Off vs. Tax Deduction vs. Tax Credit: What’s the Difference?
While deductions and credits can both positively impact your tax bill, credits can have the most influence. With a deduction, you are only reducing the amount of income subject to tax, but a credit ...