Tag: input tax credit
GST rate rationalisation has largely fixed inverted duty structure, says Sitharaman
Finance minister Nirmala Sitharaman on Tuesday said the recent goods and services tax (GST) rate rationalisation has “largely corrected” the inverted duty structure faced by…
Delhivery arm Ecom Express gets Rs 1.3 crore over input tax credit
Logistics provider Ecom Express has received a tax demand under the provisions of Goods and Services Tax (GST) of Rs 1.31 crore, said owner Delhivery…
MSMEs seek GST automation, concessional input rates
The Federation of Indian Micro and Small & Medium Enterprises (FISME) has asked the government to establish an automatic refund mechanism for input tax credit…
Short end of the GST stick makes one shine, leaves another guessing
As the government’s GST rate cuts draw applause, two winners have already emerged — the Indian consumer and FMCG firms. The sector left holding the…
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…