This change in GST annual return if not checked properly can result in input tax credit mismatch
GST annual form GSTR-9 has a significant change which if not properly checked can result in input tax credit mismatch.
GSTR 2B input tax issue: A new advisory by GSTN on how to fix it for FY 2023-24
In case the taxpayer has opted for QRMP scheme (Quarterly filers), GSTR-2B will not be generated for the first and second ...
Business Recorder7d
Input tax claim and credit: SC defines applicability of Section 8 of Sales Tax Act
ISLAMABAD: The Supreme Court observed that Section 8 of the Sales Tax Act, 1990, only prohibits the claim, credit ...
GSTR-3B deadline expired: File now to avoid input tax credit loss, GST registration cancellation
The deadline to file GSTR-3B was November 20, 2024 and November 21, 2024 for Maharashtra and Jharkhand. If you have missed filing this return then do note the penalty for non filing of GST return may ...
Telecom industry expects SC judgement on Input Tax Credit to improve their financial health
In a major victory for the telecom sector, the Supreme Court ruled that service providers are entitled to claim Cenvat ...
The Financial Express3d
Relief for telcos as Supreme Court grants tax credit on tower parts
In 2006, the excise department issued a show cause notice to Bharti Airtel and said that the company had wrongly claimed ...
Tax Guru12d
Input tax credit eligible under section 16(5) and 16(6) of CGST Act: Gauhati HC
Gauhati High Court held that petitioner is entitled to claim input tax credit subject to conditions prescribed to newly inserted section 16 (5) and section 16 (6) of the CGST Act, 2017 which are ...
E&E4d
Republicans ask for input on revamping IRA biofuel credits
House Republicans say Democrats ignored their input when writing the Inflation Reduction Act’s biofuel credits in 2022. Now the GOP says it’s working on a plan to fix them. On Monday, Rep. Carol ...
Tax Guru5d
Rejection of Service Tax Refund Under Section 142(8) of CGST Act Not Justified: CESTAT Chennai
CESTAT Chennai held that denial of refund claim related to cenvat credit of service tax under RCM by invoking provisions of ...
Business Line14d
Businesses have 3 weeks to avail ITC, correct compliances in GST returns for FY24
Businesses have less than three weeks left to have one last opportunity to claim pending Input Tax Credit (ITC) and to settle errors and omissions under Goods and Services Tax (GST) mechanism.