Tag: Input Tax Credit (ITC)
Posted in Economy
GST reforms: Refunds, wider ITC mark third phase of reform as India targets global supply chains, says PwC’s Pratik Jain
Nearly a decade since its roll out, the historic GST reform moved closer towards a pivotal point of maturity. Over the years, GST has largely…
Posted in Economy
GST Council to hold 57th meet on Sept 12
New Delhi: The GST Council is set to meet on September 12, nearly a year after its last meeting, to consider reforms including making it…
Posted in Economy
GST panel may consider allowing transfer of unused tax credit within corporate groups
New Delhi: A key panel under the goods and services tax (GST) council is likely to consider suggestions from the industry on transfer of unutilised…
Posted in Economy
Businesses get relief as CBIC eases ITC rules
Businesses receiving post-sale discounts in the form of financial or commercial credit notes without tax adjustments do not need to reverse input tax credit (ITC),…