Tag: input tax credit
Easing working capital under GST: Unlocking the value of accumulated ITC in GST 2.0
As India commemorates eight years of GST, the business community is increasingly vocal about the need for reforms that enhance working capital efficiency. Reflecting on…
How GST 2.0 can transform the MSME sector
Micro, Small and Medium Enterprises (MSMEs) are essential for India’s economic growth, creation of employment and supporting large industries with cost-effective solutions. Over the years,…
GST regulations: Govt can support exporters by addressing existing gaps, ambiguity in GST regulations
MUMBAI: At a time when India’s merchandise exports have been declining for the last five consecutive months, tax experts suggest five key changes in GST…
GST ITC restriction on CSR spend: Why businesses are worried about potential challenges
Seamless flow of Input Tax Credit (ITC) is the cornerstone of a robust Value-Added Tax (VAT) architecture. Simply put, say Company A – whether a…
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…
Promotional Scheme: Gift or not? The confusion over GST on promotional schemes run by businesses
Businesses now-a-days are adopting new and innovative promotional schemes to attract customers. With increased competition, making space for a new business or even surviving in…
GST Act | Small Businesses: Decriminalisation of GST Act: Why it can be a big reprieve for small businesses in India
The introduction of Goods and Services Tax (GST) was a bold step towards digital transformation of tax administration. GST introduced the concept of uniform tax…
GST Exemption | International Freight: Exporters may have great festive season amid withdrawal of GST exemption on outbound international freight
There is a lot hue and cry happening in the exporter circle about the withdrawal of exemption of goods and services tax (GST) on international…
GST: Amendment in GST return format: Why changes regarding ITC will increase complexity for taxpayers
The implementation of the GST law in India has been prefaced with the narrative of national ambition and that of a global exception. The government…
gst council: From canteen to medical insurance, GST Council provides much-awaited relief on employee perks
In the last meeting, the GST Council promised to issue clarifications relating to various Input Tax Credit (ITC) issues under GST. Keeping its promise, the…