Input Tax Credit under GST: The net GST payable is the overall GST minus GST paid on buying raw material. Before GST, credit of taxes being levied by the central government was not available as a ...
Understand Input Tax Credit (ITC), a key component of the GST system. Learn how it prevents cascading taxes, its rules, benefits, and challenges for ...
If you are a goods and services tax (GST) registered taxpayer and want to claim any pending input tax credit (ITC) for FY 2023-24 or amend any errors or omissions under GST then note the last date to ...
Learn how to check GST filing status online, understand common errors, and avoid penalties. A simple guide for timely GST compliance and ITC claim ...
The GST Council’s shift to a two-slab system may look consumer-friendly with lower rates, but denial of Input Tax Credit (ITC ...
An industry executive who did not wish to be named said that if there is a risk of substantial amounts getting stuck within the refund process, it gives way to tendencies of evasion ...
Ahmedabad: The GST department has issued notices to hundreds of builders asking them to reverse their input tax credit (ITC). The notices were issued for the years 2017-18 and 2018-19. The department ...