Tag: input tax credit
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…
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…