Input Tax Credit (ITC) is backbone of Goods and Services Tax (GST) framework, enabling seamless flow of credit across value chain. However, right to avail ITC is subject to various conditions stipulated under Section 16 and Section 17 of CGST Act, 2017.
Understand the new GST valuation for corporate guarantees between related parties. Rule 28(2) now mandates a specific tax treatment. Learn more.
Learn about GST framework for intermediary services, legal provisions and expected reforms to alleviate tax burdens and boost cross-border trade facilitation.
The Sikkim High Court’s judgment in SICPA India breathes fresh life into a long-standing debate on the right to claim refunds upon business closure under GST.
The GST Council in its 55th GST Council meeting held on 21st December 2024, has announced an increase in the GST rate on old and used cars from 12% to 18%, raising questions among buyers and sellers about its impact. Let’s break it down to understand what this means for the used car market and how it affects you.
Finance Bill 2023 GST updates: Enhanced composition scheme eligibility, ITC amendments, and stricter penalties for ECO violations. Key changes aim for clarity and compliance ease in GST framework.
TC can be availed by registered person in Table 4 of GSTR-3B of a tax period. Question is that in which tax period’s GSTR-3B, a registered persons can claim ITC after this amendment.
