Tag: input tax credit
GST Council meeting 2026: What may change as GST 2.0 takes aim at ITC, refunds, arrest powers and other reforms
The Goods and Services Tax (GST) Council is set to consider a sweeping package of reforms on Thursday that could remove the power of tax…
GST 2.0 set to amplify ease, unlock tax credit
New Delhi: India is eyeing a broad overhaul of the goods and services tax (GST) regime that could free up thousands of crores of accumulated…
GST Council may clear sweeping compliance reforms; e-commerce sellers, genuine biz to get relief
The GST Council is likely to consider sweeping process reforms on Wednesday to make tax compliance easier for businesses, including allowing small e-commerce sellers to…
Employers may soon be able to claim ITC on GST paid for employee insurance cover
New Delhi: The GST Council is expected to consider a proposal in its meeting on October 7 to allow employers to claim input tax credit…
UPI MDR above Rs 2,000 to attract 18% GST, merchants can claim input tax credit
The new merchant discount rate (MDR) on UPI payments above Rs 2,000 will attract 18% Goods and Services Tax (GST), but eligible merchants can claim…
FISME seeks GST overhaul to ease MSME compliance
Ahead of the Goods and Services Tax (GST) completing a decade next year, the Federation of Indian Micro and Small & Medium Enterprises (FISME) has…
Input tax credit relief for companies on staff cars, insurance likely
New Delhi: Companies may soon be allowed to claim input tax credit (ITC) on vehicles purchased in the company’s name for employees’ use and on…
GST law panel clears proposal to shield buyers’ input tax credit from supplier defaults
New Delhi: The GST Council‘s law committee Friday cleared a proposal aimed at protecting buyers from losing input tax credit (ITC) if suppliers fail to…
From GST to tariffs, for insurance sector, it’s been a year of reset, realignment and renewed focus
As calendar year 2025 comes to a close, the Indian insurance sector stands at a transformative juncture. This year has brought sweeping changes, from GST…
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…