Input Tax Credit (ITC) has long been a complex terrain for businesses navigating the intricate world of Goods and Services Tax (GST). For enterprises, an accurate input tax credit claim is not just a ...

NEW DELHI: An optional, online system to reconcile transaction details for availing GST credit may soon be made mandatory, according to two persons aware of the development. The invoice management ...

When the financial year closes, many businesses make bulk purchases in March to optimise their GST outflow, but experts warn that this strategy can backfire. CA Nitin Kaushik explains that input tax ...

The investigation revealed that the company is actively engaged in availing fraudulent Input Tax Credit solely on the basis of invoices without any underlying supply of goods or services. Central GST ...

The recovery rate in Goods and Services Tax (GST) cases pertaining to input tax credit (ITC) fraud has gone up significantly in FY24, with the Directorate General of GST Intelligence(DGGI) recovering ...

This facility shall be available to the taxpayer from October 1 onwards on the GST portal. GST Network will launch the Invoice Management System (IMS) from October 1 which will facilitate taxpayers in ...

Central and state authorities will launch a two-month-long nationwide drive against fake goods and services tax (GST) registrations to weed out bogus entities used for evading tax, showed an official ...

Under the GST law, input tax credits can be claimed on tax invoices that have been paid. Sounds simple enough, but if the Tax Office checks up and denies a claim for the credits, the taxpayer has to ...

The government’s recent circular has brought clarity on trade discounts and credit notes under the GST regime, but has shifted compliance obligation and cash-flow pressure onto FMCG distributors, ...