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ITC MISMATCH
GST@9: Building a more seamless, certainty-driven input tax credit frameworkA more balanced and predictable approach can help safeguard revenue, reduce disputes, enhance taxpayer confidence, and create a more effici...- 30 Nifty stocks wipe out Rs 22.64 lakh crore investor wealth in 2026 so far; HDFC Bank, TCS lead routThirty Nifty 50 stocks have wiped out Rs 22.64 lakh crore in investor wealth this year. HDFC Bank and TCS led the decline, losing Rs 3.55 l...
- Who is Muthukrishnan Dhandapani and how did he become Rahul Gandhi's investment advisor?Muthukrishnan Dhandapani, a Chennai-based mutual fund distributor and ex-BJP supporter, went viral on X after revealing that he has been ad...
- Bajaj Electricals gets Rs 14.08 cr demand from GST authority in PunjabBajaj Electricals Ltd has been issued a demand of Rs 14.08 crore by GST authorities in Punjab for ITC mismatch and reverse charge mechanism...
- New GSTN feature to correct mistakes in GST invoice matching process for claiming input tax credit; Know how it worksInput tax credit: The goods and services tax network (GSTN) has introduced a solution to help GST registered taxpayers into claiming the co...
- GST authorities issue notices over input tax credit discrepanciesGST authorities have issued notices to companies for discrepancies in input tax credit claims, prompting scrutiny of annual returns against...
- Asian Paints gets GST demand notices worth Rs 2.07 croreThe three orders related to the availing of "alleged ineligible Input Tax Credit (ITC)," were received on December 30, the leading paints m...
- GST: As taxman intensifies drive against bogus ITC claims, it's not just fake cos that are sufferingITC refers to GST credit for tax paid while buying goods or services to be used for business. One example of ITC is the GST paid on raw mat...
- CBIC: Issue show cause within 2 yrs and 9 months of erroneous refundIn a clarification issued to its field formations, the CBIC said if the refund demand or show-cause notice is sent beyond the stipulated pe...
- Notices on mismatch between GSTR 2A & GSTR 3B: How to defend such cases?The mechanism for matching of input tax credit as per GST law is designed to be carried out by combined filing of Forms GSTR-1, GSTR-2 and ...
- GST: Changes and method to claim Input Tax Credit answeredSmall business owners often voice a few queries related to input tax credit (ITC). This article seeks to answer some of the commonly asked ...
- GST collection crosses Rs 1.1 lakh crore in JanuaryThis is in line with the target set by Revenue Secretary Ajay Bhushan Pandey after high-level meetings with senior officials of the tax dep...
- Govt revises target for GST collections againTarget has been raised to Rs 1.15 lakh crore over the next two months and Rs 1.25 lakh crore in March.
- High input tax credit mismatch under I-T lensRevenue secretary Ajay Bhushan Pandey has directed senior income tax officials to identify cases of suppression of personal income or tax e...
- Government uses GST alerts for better complianceGSTN is working on a dashboard which will point to gaps, including a sudden jump in ITC claims.
- Tax officials may examine high usage of ITC to set off GST liabilityThe issue of high input tax credit was flagged at the meeting of the Group of Ministers.
- Keeping it simple: Reconciliation of GST data in 5 stepsThe reconciliation process ensures that no sales or purchases are omitted or wrongly reported in the GST returns.
- Input tax credit: Important for taxpayers to know GST is unlike the previous regimeWith one year of GST coming to a positive closure, let’s take a look at present notables regarding input tax credit and the likely future f...
- Tax dept clears Rs 7,000 crore GST refunds of exportersAbout Rs 14,000 crore of refunds of exporters were stuck due to various mismatches and CBIC has organised the special fortnight to fast tra...
- CII seeks easier GST compliance procedures in BudgetAccording to CII, simplification of GST compliances would result in higher number of returns filed, increased collection of revenues, and e...
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