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 ...

Input tax credit (ITC) helps reduce the tax outgo for ... added Jain. The proposed provision overturns a SC judgement in the case of Safari Retreats, a real estate developer, who was constructing ...

The Union Minister for Finance and Corporate Affairs Smt. Nirmala Sitharaman presented the Union Budget 2024-25 in Parliament, today i.e. February 02, 2025. Majorly the changes were earlier ...

Last year, some parents may have received thousands of dollars from the government in the form of child tax credit refunds. However, they shouldn’t expect to see a repeat of those payouts this year.

The new year 2022 is going to bring a significant change in the manner of availing Input Tax Credit (ITC) by the taxpayers under the Goods ... With such draconian provisions being brought in ...

"This retrospective amendment to substitute the words "plant or machinery" with words "plant and machinery" under the input tax credit provisions of the GST laws may have a negative impact on the ...

The federal child tax ... provisions in the Tax Cuts and Jobs Act (TCJA). (More on that below.) The CTC for the 2024 tax year is worth up to $2,000 per qualifying child under 17. However, the ...

The Law Committee, a key body responsible for interpreting and advising on GST-related legal issues, recently held a meeting to address queries regarding the reversal of Input Tax Credit (ITC ...

(That's why the TCJA is also known as the "Trump tax cuts.") However, many key provisions in the ... child’s age for this credit will also decrease to 16 and under (right now the credit is ...