20 GST Compliance to do from Feb 2025 for New FY 2025-26: New features on GST Portal
As the financial year 2025-26 approaches, it’s essential for businesses to ensure compliance with Goods and Services Tax (GST) regulations. …
ITC
Clarification on Input Tax Credit (ITC) for Electronic Commerce Operators (ECO)
On December 31, 2024, the Central Board of Indirect Taxes and Customs (CBIC) issued Circular No. 240/34/2024-GST to address issues …
Clarification on Input Tax Credit (ITC) for Goods Delivered Under Ex-Works (EXW) Contracts
On December 31, 2024, the Central Board of Indirect Taxes and Customs (CBIC) issued Circular No. 241/35/2024-GST to address ambiguities …
How to Rectify Wrongly Availed ITC: Step-by-Step Guide from Circular 237/2024
The Circular No. 237/31/2024-GST, dated October 15, 2024, clarifies the provisions related to the implementation of sub-sections (5) and (6) …
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 …
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 …
New Time Limit to Avail Input Tax credit Under GST, Know the new date
The introduction of the Goods and Services Tax (GST) in India marked a significant transformation in the country’s taxation system. …
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 …
Recovery of fraudulent GST input credit rises to12% in FY24: Sources
In a notable shift, the recovery rate in Goods and Services Tax (GST) cases involving input tax credit (ITC) fraud …
Higher compliance has boosted monthly GST collections: CBIC chief
CBIC chief Sanjay Kumar Agarwal on Thursday said increased monthly GST collections are mainly on account of higher compliance, and …
