Sep 14, 2021 02:17 PM IST
The Supreme Court’s verdict ends the uncertainty created by conflicting orders by the Gujarat and Madras high courts over allowing tax credits on input services under the Goods and Services Tax
- Sep 14, 2021 08:58 AM IST
The top court set aside the Gujarat High Court verdict which had held as unconstitutional the Rule 89(5) of Central Goods and Service Tax Rules which restricted the refund only to input goods.
- Jun 29, 2021 05:34 PM IST
In its representation to the GST Council Secretariat, the industry chamber will also seek clarity on whether the excess credit would be refunded to dealers for COVID essential items bought prior to June 14.
- May 27, 2021 05:11 PM IST
43rd GST Council Meeting: GST Council’s meeting on May 28 can consider total tax exemption for medical supplies needed for combating COVID-19, and may also discuss tax tweaks to help sectors that have been hit hard by the second wave as well as compensation for states, experts say.
- Apr 23, 2021 03:27 PM IST
Industry tells government that more handholding is required to clear tax related confusion on the ground. Also calls for tax compliance deadline to be extended.
- Jan 07, 2021 09:41 PM IST
The surveys by the I-T department are related to an Input Tax Credit default, allegedly by a few third-party contracting firms.
- Dec 23, 2020 10:40 PM IST
The major recommendation of the Law Committee of GST Council is for controlling the fresh or new registration taken by the applicants without business purpose and for weeding out the existing fake dealers from the systems.
- Dec 07, 2020 04:18 PM IST
The move aims to ease the pressure on small taxpayers as the Centre has decided to introduce some new rules in GST filing.
- Jan 13, 2020 07:10 PM IST
Up until November 2019, GST field formations have booked 6,641 such cases involving 7,164 entities, wherein they recovered Rs 1,057 crore.
- Aug 12, 2019 01:47 PM IST
The input tax credit (ITC) model of GST owed its origin to the premise of ‘matched invoices’. But it has become too problematic.
- Aug 02, 2019 12:44 PM IST
Billed as a good and simple tax, GST needs a feel good factor. The sooner the government realises, the better.
- Jun 13, 2019 01:55 PM IST
The provisions on input tax credit under the GST have been well-defined and are more comprehensive than the erstwhile regime. However, there are still some loose ends that need to be fixed.
- Jun 11, 2019 12:46 PM IST
Recent rulings by National Anti-Profiteering Agency have made it clear that citing practical difficulties for inability in passing on the profits is not acceptable to authorities. Profit, if accrued, needs to be passed on
- May 08, 2019 01:03 PM IST
Finance Ministry has compiled a list of FAQs that real estate stakeholders may have with regards to treatment of GST.
- Mar 22, 2019 08:08 AM IST
The revised structure and rules do seem to make it more beneficial for builders and takes care of some of their concern
- Feb 27, 2019 08:25 AM IST
Investors were looking forward to a cut in GST on under-construction properties, to spur real estate sector growth. What the government gave with one hand, the other took away
- Feb 25, 2019 12:28 PM IST
Homebuyers ought to be wary of developers who may try and increase the base price for non-affordable housing units to make good the loss on account of input tax credit being denied to them
- Feb 24, 2019 01:30 PM IST
In case of both general housing projects and affordable units, there are no clear guidelines about how anti-profiteering provisions would work for the units which are sold post July 1, 2017
- Jan 10, 2019 10:55 AM IST
The anti-profiteering mechanism is far from being fool proof
- Oct 30, 2018 12:42 PM IST
Officials are comparing tax reported between pre and post-GST periods to identity suspected tax dodgers
- Nov 17, 2017 11:18 AM IST
McDonald's blamed withdrawal of input tax credit which has resulted in increased operating costs
- Sep 20, 2017 04:06 PM IST
Out of the Rs 95,000 cr GST revenues in July, more than two third of the amount is up for refund as input tax credit
- Jul 04, 2017 05:46 PM IST
Black money component in real estate to come down drastically as construction material will have to be sourced from registered vendors to get input tax credit
- Jul 03, 2017 04:46 PM IST
Large companies have the bandwidth to invest in the technology upgrades to support their ERP platform in the process of being GST compliant
- Jun 12, 2017 05:03 PM IST
Anti-profiteering clause and input tax credit could cause a few teething problems, say experts