Input tax credit removal set to hit commercial realty companies
Availability of ITC on construction costs has been restricted retroactively from July 1, 2017, impacting commercial real ...
Tax Guru8d
Landmark Judgements of SC on Input Tax Credit for Construction Under GST
Input Tax Credit is Not Restricted if the Construction of Premises Satisfies the Functional Utility Test and is Germane to Business In the case of Chief Commissioner of Central Goods and Services Tax ...
Retrospective GST input tax credit amendment to impact commercial realty
The government's retrospective amendment to the Finance Bill 2025 overrides the Supreme Court's ruling from October 2024, ...
Life insurers oppose GST exemption on term insurance, flag input tax credit concerns
Insurers argue that a complete exemption will lead to denial of input tax credit and the increased costs will have to be ...
Tax Guru10d
GST Rates & ITC on Hotel Accommodation & Restaurant Services
It may be noted that GST rate on hotel accommodation depends on the amount paid per room accommodation per day. Presently from 18.7.2022 onwards, GST is 12% for a room in a hotel which would cost upto ...
JD Supra8d
Tax Court of Canada Denies GST/HST Input Tax Credit Claims in Connection with a Settlement Payment
In a general procedure hearing that was later moved under the informal procedure rules and rendered on December 17, 2024, the ...
ThePrint3d
DGGI probe detects Rs 1,196 cr fraudulent Input Tax Credit transactions
The Directorate General of GST Intelligence (DGGI) has unearthed fraudulent Input Tax Credit (ITC) transactions amounting to Rs 1,196 crore by exposing a network of bogus companies and arrested a ...
One arrested for availing fake input tax credit of ₹227 crore
CGST Commissionerate arrests person for ₹227 crore fake input tax credit fraud, passed on credit to own units.
The Hindu3d
DGGI probe detects ₹1,196 crore fraudulent Input Tax Credit transactions
The Directorate General of GST Intelligence (DGGI) has unearthed fraudulent Input Tax Credit (ITC) transactions amounting to ₹1,196 crore by exposing a network of bogus companies and arrested a ...