Tag: input tax credit
Budget home threshold may be hiked to Rs 55 lakh
New Delhi: The group of ministers (GoM) tasked by the Goods and Services Tax Council to look into application of GST for real estate is…
GST relief for foreign airlines, academic institutions
New Delhi: Foreign airlines operating in India will not be liable to goods and services tax (GST) on services provided by the head office to…
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,…
Fake registration drive: GST officers detect 10,700 bogus firms, over Rs 10k cr evasion
New Delhi: Tax officers have detected around 10,700 fake registrations under the GST, involving evasion of Rs 10,179 crore in the ongoing all-India drive against…
DGGI detects Rs 2.01 lakh cr GST evasion in FY24; online gaming, BFSI most prone to evasion
NEW DELHI: Investigation arm DGGI has detected 6,084 cases involving Rs 2.01 lakh crore of GST evasion in 2023-24 fiscal, with online gaming and BFSI…
GSTN to launch invoice management system from Oct 1
New Delhi: GST Network will launch the Invoice Management System (IMS) from October 1 which will facilitate taxpayers in matching their records/invoices vis-a-vis issued by…
Infosys vs USD 4 Billion GST: CBIC sensitises officials about June circular as tax experts bat for clarity
The Central Board of Indirect taxes and Customs has asked field officials to take into account its June 26 circular when considering matters about related…
GST ITC claims: Fake ITC claims detection by central GST officers up 51 pc at Rs 36,374 cr in FY24
Fake input tax credit (ITC) claims detection by central GST officers increased 51 per cent to Rs 36,374 crore in 2023-24, Parliament was informed on…
input tax credit: GST Council likely to clarify premium on life insurance
(This story originally appeared in on Oct 09, 2023) NEW DELHI: The GST Council will soon provide clarity on input tax credit for life insurers,…
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…