Ficci, Assocham demand input tax credit for real estate under CGST
Industry bodies FICCI and Assocham have demanded that real estate developers should be allowed to claim Input Tax Credit (ITC ...
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 Guru24y
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 ...
Saver’s Tax Credit: A Retirement Savings Incentive
The saver’s tax credit helps people who earn modest incomes save more for retirement. Learn whether you qualify for it and the advantages it can provide.
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2 days delay in input tax credit: Buyers will have to wait longer for GSTR-2B statement; use recompute option in this case
The Goods and Services Tax Network (GSTN ... Experts say GSTR-2B is a critical document that allows buyers to claim Input Tax Credit (ITC). Unless the suppliers updates it accurately the buyer ...
PhilStar Global on MSN10d
A look back: A company’s claim for input VAT
Section 110(A) of the Tax Code, as amended, identifies the transactions creditable against output tax. Among the transactions are the purchase or importation of goods for sale, for conversion into or ...
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 ...
Your Story28d
Industry status, green tourism, and input tax credit: Hospitality sector’s wish-list for Budget 2025
Input tax credit (ITC) refers to the GST (goods and services tax) paid on the purchase of goods and services that are used for the business. Today, restaurants fall under the 5% GST rate ...