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

The industry may push for a new refund mechanism, but this would be difficult for the government to allow, given the high ...

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

Experts flag input tax credit blockage for FMCG distributors despite GST relief. Circular shifts compliance, cash-flow ...

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 ...

Recent GST changes simplify post-sale discounts via Credit Notes, mandate invoice-wise TDS reporting in GSTR-7, impose a 3-year limit on filing old returns, and introduce electronic filing for GSTAT ...

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.

CERC holds public hearing on GST rate changes impacting power sector, aims for uniform treatment of change in law events.

Hyderabad: The recent GST rate revision may not be all that joyful for students, and in turn parents. In fact, rising costs ...

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