The deadline to file Goods and Services Tax (GST) annual returns for businesses has been extended by the government for FY 2020-21. The Central Board of Indirect Taxes & Customs (CBIC) said that "the ...

Explains the correct process for claiming past ITC using GSTR-2B data and filing within the annual return deadline. Key takeaway: claim only reflected ITC to avoid variance notices and defer unmatched ...

The Government has imposed restrictions on reimbursement of input tax credit under the GST. New GST Input Tax Credit Rules: Millions of GST payers are eagerly awaiting clarity over the new rules ...

The current Goods and Services Tax (GST) regulations showed that all regular and irregular taxpayers are required to file their GST returns for each tax period. Form GSTR-3B, a streamlined summary ...

Input tax credit means credit of Input tax i.e. tax levied on input goods, input services or both. Any goods (including capital goods) and any input services used or intended to be used by a provider ...

As the nationwide lockdown to contain the spread of COVID-19 continues, individuals and businesses have been hoping for the restoration of normalcy so that meeting compliance requirements, such as the ...

The Kerala High Court has held that a cancelled GST registration cannot be restored solely to claim the ITC (Input Tax Credit) benefit under Section 16(6) CGST Act (Central Goods and ...

The recovery rate in Goods and Services Tax (GST) cases pertaining to input tax credit (ITC) fraud has gone up significantly in FY24, with the Directorate General of GST Intelligence(DGGI) recovering ...

NEW DELHI: Realtors' body Credai on Tuesday demanded that input tax credit (ITC) under the GST regime should be allowed to developers, saying this could lead to a reduction in housing prices by 10 per ...