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GST ITC RESTRICTION
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...- GST fault line: Supreme Court to rule if taxman can bundle years into one sweeping show-cause noticeThe Supreme Court is set to decide if tax authorities can issue a single show-cause notice for multiple financial years. This procedural is...
- GST 2.0: Key changes effective September 22; explained in FAQsThe 56th GST Council, convened on September 3, 2025, announced significant GST regime revisions effective September 22, 2025. These changes...
- Food Ministry forwards veg oil GST refund request to Finance MinistryThe food ministry has urged the finance ministry to lift GST refund restrictions on vegetable oils, a move impacting SMEs due to inverted d...
- Vegetable oils body seeks removal of GST refund restrictionsThe IVPA is urging the government to remove restrictions on tax credit refunds implemented in July 2022, arguing that these curbs are creat...
- Clarity on taxation issues amid evolving GST landscape is key to boost real estate sectorThe real estate sector in India, employing 71 million people in 2023, faces ongoing challenges with the GST regime. Despite reforms in 2019...
- Rising complications for corporates in ITC claims under GSTThe changes in ITC rules have added responsibilities on businesses to reconcile and communicate with vendors more often. Businesses must ta...
- GST ITC restriction on CSR spend: Why businesses are worried about potential challengesAs part of FY 2023-24 Budget proposals, the Union Finance Minister has recommended restricting ITC on goods or services used for meeting th...
- Ease of GST compliance: Still a distant dreamGST compliances which were envisaged to be easier and less complex, have turned out to be a compliance nightmare with multiple and frequent...
- GST: Imposition of new ITC restrictions every year is diluting ease of doing businessAt the inception of GST, the availment of ITC was envisaged as a two-way communication whereby the supplier would upload the supply invoice...
- Realtors seek input tax credit under GST; say it may help rationalise housing prices by 10%In its recommendation to the finance ministry, the developers’ body CREDAI has stated that due to the prevailing exorbitant construction co...
- A 'Good & Simple Tax'? 4 years of GST and the road aheadDespite early hiccups, overall progress during the last four years has helped India achieve the ambitious government’s aim of bringing in e...
- GST authorities arrest 215 persons in fake invoice cases, recover over Rs 700 crore in 2 monthsThose arrested by the Directorate General of GST Intelligence (DGGI) and the CGST Commissionerates include six Chartered Accountants and on...
- Government crackdown on 7,000 GST evaders, 185 arrestedThe government netted a record GST collection of Rs 1.15 lakh crore in December 2020, helped by the action against tax evaders alongside pi...
- About 45K entities to come under mandatory 1% cash payment of GST liability ambitThe government's decision on mandatory payment of at least 1% of GST tax liability in cash will impact only around 40,000 to 45,000 taxpaye...
- Businesses with monthly turnover of over Rs 50 lakh to pay at least 1% GST liability in cash“... The registered person shall not use the amount available in electronic credit ledger to discharge his liability towards output tax in ...
- GST: Restrictions on ITC claim if you do not file GSTR 1 on timeFiling of FORM GSTR-9 for taxpayers who (are required to file the said return but) have aggregate turnover up to Rs. 2 crore made optional ...
- Tough to claim input tax credit for donated goodsGST authorities have, based on the facts of the case, denied ITC claims, especially when the company was not distributing its own products.
- Reduction in GST rate leads to a drop in price? Real estate a test case for broader changesIndia's real estate sector has been in trouble for some time now with plummeting sales and huge inventories with developers.
- Bad news for flyers: Airlines may soon push up fares to lighten GST loadCarriers are concerned that increase in tax and likely reductions in input tax credits on economy class revenues could reduce operating fle...
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