Tag: GST compliance
GST law panel clears proposal to shield buyers’ input tax credit from supplier defaults
New Delhi: The GST Council‘s law committee Friday cleared a proposal aimed at protecting buyers from losing input tax credit (ITC) if suppliers fail to…
As GST turns 10, focus shifts to AI-led compliance, faster refunds, simpler tax processes
New Delhi: As India enters the tenth year of rollout of the Goods and Services Tax, the focus is shifting from implementation to efficiency through…
MSMEs and GST@9: Journey so far and next phase of reforms
Micro, Small and Medium Enterprises (MSMEs) are essential to India’s economic growth, employment generation and to offer larger industries, the access to cost-effective solutions. Once…
GSTN issues advisory on new Invoice management system
The centre will introduce significant changes in the invoice management system under goods and services tax, allowing taxpayers to keep records of credit and debit…
Carpet industry welcomes GST compliance ease, but raises concerns over tax on finished products
Manufacturers of handmade carpets and floor coverings have welcomed the recent reduction in the Goods and Services Tax (GST) rate from 12% to 5%. They…
GST compliance: Ease of GST compliance: Still a distant dream
India’s biggest tax reform, the Goods & Services Tax (GST) was introduced on 1 July 2017. The journey of GST in India has been a…