A clear breakdown of how Rule 37A forces ITC reversal when suppliers fail to file GSTR-3B and what businesses must do to stay compliant. Key takeaway: ITC depends on supplier tax payment, not buyer ...
When the financial year closes, many businesses make bulk purchases in March to optimise their GST outflow, but experts warn that this strategy can backfire. CA Nitin Kaushik explains that input tax ...
GST rulings clarify ITC eligibility on high-tension electricity infrastructure installed outside factory premises. Movable ...
As part of a broader overhaul of the GST framework, the government is reportedly considering a sharp reduction in tax on insurance premiums. A steep cut in the goods and services tax (GST) on health ...
GST officers have uncovered fake input tax credit (ITC) claims of Rs 15,851 crore in the April-June quarter of current fiscal, a 29 per cent jump over the year-ago period, even though the number of ...
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GST officers detect Rs 15,851 crore fake ITC claims in April-June; 3,558 bogus firms busted, 53 held
NEW DELHI: GST officers have uncovered fake input tax credit (ITC) claims of Rs 15,851 crore in the April-June quarter of current fiscal, a 29 per cent jump over the year-ago period, even though the ...
Diversified conglomerate ITC on Thursday said it will pass on the full benefits of the GST rationalisation to customers across applicable non-cigarette FMCG products. “The Government’s Next Generation ...
GST officers uncover Rs 15,851 crore fraudulent ITC claims in April-June, 3,558 fake firms uncovered
In the Q1 of FY25 , GST officers had detected Rs 12,304 crore fake ITC involving 3,840 fake firms. Rs 549 crore was recovered and 26 persons were arrested. (Photo source: Canva) GST officers have ...
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