Rectification of ITC Orders: Detailed Procedure for Taxpayers Under GST Section 16 Amendments
The Goods and Services Tax (GST) Council, in its 54th meeting on September 9, 2024, recommended that Sections 118 and …
Input tax credit
New Circular 216/10/2024 for GST and ITC on Warranty and Extended Warranty Services
Clarification in respect of GST liability and input tax credit (ITC) availability in cases involving Warranty/Extended Warranty, in furtherance to …
CBIC Circular 214/8/2024 : Tax Rules for Life Insurance Premiums
Clarification on the requirement of reversal of input tax credit in respect of the portion of the premium for life …
CBIC’s Latest Circular 210/4/2024 on GST for Imported Services Explained
CBIC Clarifies Valuation of Imported Services by Related Persons Eligible for Full Input Tax Credit On June 26, 2024, the …
Blocked Input Tax Credit (ITC) under GST
The Goods and Services Tax (GST) regime in India, while beneficial, specifies certain restrictions on the availability of Input Tax …
New Relief in Section 16(4) of GST
In a recent landmark judgment, the Kerala High Court’s ruling in the case of M.Trade Links Vs Union Of India …
IDBI Bank gets Rs 2.97 crore GST demand order
IDBI Bank on Tuesday said it has received a GST demand order of ₹2.97 crore along with interest and penalty …
HDFC Life gets GST demand orders of Rs 27 cr for short payment of taxes
HDFC Life Insurance Company on Thursday said it has received GST demand orders of over Rs 27 crore for alleged …
New GST & Income tax Rules Effective from April 1, 2024, Prepare for new financial year
In line with the evolving tax landscape, several amendments and recommendations are set to take effect from April 1, 2024. …
CGST Commissionerate busts syndicate involved in Rs 1,000 cr ITC fraud
Five bank accounts that were used to park the proceeds by the syndicate have been provisionally attached, it said Meerut …
