GST circular 251 clarifies input tax credit rules, but distributors face cash flow issues due to excess ITC balances.

New GST rates took effect on September 22, 2025, necessitating software updates for registered taxpayers. A step-by-step ...

With the 22 September deadline for new, lower GST rates now here, consumer packaged goods makers, distributors, and retailers ...

Coal Ministry reforms aim to rationalize tax burden, eliminate compensation cess, and address inverted duty anomalies for ...

This article examines advanced and practical challenges with the GST Input Service Distributor (ISD) mechanism, covering issues from expense identification to ITC eligibility and procedural ...

No ITC reversal required for financial credit notes. Explains when discounts are 'consideration' or payment for ...

The government's new GST circular clarifies the treatment of trade discounts and credit notes but increases compliance and ...

The Goods and Services Tax (GST) rates, revised by the GST Council, became effective on September 22, 2025, necessitating immediate updates to accounting software for GST-registered businesses. , ...

A talk during The Hindu Mind event, regarding the GST Council did not discuss compensating States for revenue loss due to rate cuts, increasing dependence on Centre.

GSTN has announced major changes to the Invoice Management System (IMS) effective October 2025. Key updates include pending ...

Under the law, if the declared tariff of a hotel room is more than ₹7,500 per day, GST at 18 per cent becomes applicable on ...

From today, everyday essentials such as soaps, hair oil, and shampoos, along with items like two-wheelers and cars, have ...