Nitin Kumar bought a flat in an under construction project and pays 12% effective Goods and Services Tax (GST) every time he pays an instalment. He has not been able to avail the benefit of the input ...

A ministerial panel chaired by Bihar deputy chief minister Sushil Modi has worked out a new simplified model for goods and services tax (GST) return filing as per which input tax credit could be given ...

NEW DELHI: The government should allow commercial real estate developers to set off GST paid on inputs like cement from the tax liability on rental income to avoid double taxation and give a boost to ...

The meaning of ITC can be easily understood when we take the words ‘input’ and ‘tax credit into consideration’. Inputs are materials or services that a manufacturer purchases in order to manufacture ...

GST is a destination-based tax as compared to the present principle of origin-based taxation. GST is a destination-based tax as compared to the present principle of origin-based taxation. The change ...

Real estate developers may pass on differential input tax credit benefit to homebuyers invested in the same project depending on the amount that may be due from them to the builder on July 1, say real ...

As GST is a single tax levied across India right from the manufacture of goods/ services till it reaches the end customer, the chain does not get broken and everybody is able to take benefit of the ...

The GST Council on Saturday appealed to the Indian industry to pass on to customers the benefit of the novel input credit system introduced in the new pan-India indirect tax regime that is available ...

Nagpur: Experts have raised concerns over the non-availability of input tax credit under GST to a manufacturer for goods or services acquired from one state, if the end product is sold in another. The ...