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 ...
Supreme Court upholds buyers can correct clerical errors in GST filings without penalty, claim ITC
In a significant ruling that promises ease of compliance to taxpayers under the goods and services tax, the Supreme Court has ...
Luxury Hotel Dining to Get Pricier as 18% GST Kicks In From April 1 | New Rules Explained
Under the revised framework, “specified premises” refer to hotels or properties where the per-night room rate exceeded ₹7,500 in the previous financial year.
Maximise your savings with input tax credit using a GST calculator
The Input Tax Credit (ITC) allows you to claim credit for the GST paid on business-related purchases. Whether it is raw ...
New GST rule: Input Service Distributor mechanism takes effect from April 1; details here
The Input Service Distribution (ISD) mechanism will enable businesses with branches in multiple states to consolidate ...
Tax Guru2h
Key GST Compliances for Year-End: Deadlines & Requirements
The Firm accepts no responsibility or liability (whether by statute, in equity, in tort or otherwise) for any loss or damage (economic or otherwise) suffered by any person who relies or acts upon any ...
Tax Guru2d
Patna HC Allows Rectification of ITC Claim Under GST
Patna High Court addressed a dispute regarding the denial of input tax credit (ITC) to Platinum Ispat Industries Pvt. Ltd. for the months of January to March in the assessment year 2018-19. The ...
SC junks CBIC plea, says GST errors can be corrected even after deadline
The Supreme Court further emphasised that denying ITC due to human errors results in unfair double taxation, where businesses ...
Restaurant services in hotels with room rent above Rs 7,500/day fall under 18 pc GST: CBIC
Hotels charging room rent above Rs 7,500 a day will be considered 'specified premises' from April 1, 2025. Restaurant ...
Parliamentary panel flags issues faced by MSMEs, exporters under GST; suggests easier compliance, fast tracking refunds
In its report presented to Parliament on Wednesday, the Committee also underlined the need for a dedicated fast-track refund ...
GST consultant arrested in Vijayawada for ‘generating and using bogus invoices’ worth ₹42.73 crore
DGGI arrests GST consultant in Vijayawada for ₹42.73 crore bogus invoice scam resulting in ₹6.51 crore tax evasion.
Restaurant services in hotels with room rent above ₹7,500/day fall under 18 pc GST: CBIC
New Delhi, Mar 27 (PTI) Hotels charging a room rent above ₹ 7,500 a day at any time in any financial year will be considered 'specified premises' for the next fiscal and restaurant services provided ...