CBIC issued a new circular to clear the air over 20% cap on input tax credit. GST Return: Tax experts have sought clarity over certain provisions of the latest circular issued by the GST policy wing ...

CBIC's new circular clarifies confusion about 20% cap on ITC claims. GST News: In a big relief for GST taxpayers, the Union government on Monday clarified the new rules related to availing input tax ...

Monthly GST collections are becoming a sort of a barometer to measure the state of the economy. If that is used as a basis, data for October 2024 would hint that all is well with the Indian economy.

NEW DELHI: The government is considering amendments in the GST circular 210, which clarifies on valuation of supply of services import by a related party where recipient is eligible to full input tax ...

India's GST Council has initiated reforms to modernize the GST framework for improved compliance and business operations. Simplified registrations and automated processes are expected to reduce ...

Bombay High Court has stayed the effect and operation of the GST Circular relating to corporate guarantee on a petition filed by Vedanta. Earlier, the High Courts of Telangana and Punjab & Haryana ...

Are states now defying the Centre's authority on GST matters? A recent circular issued by Department of GST in Maharashtra clearly indicates that the state will have a last say on applicability of a ...

Uttar Pradesh tax officials found three firms engaged in circular trading and irregular ITC claims, leading to a ₹2.48 crore deposit.

MUMBAI: If a payment constitutes a ‘consideration for a supply’, then it is taxable irrespective of the name by which it is called, states the Tax Research Unit (TRU) of the finance ministry. Late on ...

New Delhi: The Centre and states are mulling new guidelines to bring uniformity in documents that are to be submitted for faster processing of goods and services tax (GST) registration application of ...

The said circular had created confusion, with this, leaving an onus on ITeS service providers self-assessing on whether they qualified as an intermediary.(Photo: Mint) The Central Board of Indirect ...