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 ...

Indore (Madhya Pradesh): The changes made in the filing of GST Annual Returns make the reconciliation of Input Tax Credit (ITC) easier. This will be a great relief for the tax payers. Thus, taxpayers ...

The Goods and Services Tax (GST) regime in real estate has always been a complex web for homebuyers, developers, and investors alike. However, the GST Council’s recent rate cuts on key construction ...

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 ...

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 ...

Fast-moving consumer goods (FMCGs) are in action today as the GST Council has approved a two-slab structure, which will result in the reduction of a wide range of FMCG products. The new GST slabs will ...

The Anti-Evasion Branch of CGST Delhi South Commissionerate has unearthed a large-scale fraudulently availed Input Tax Credit (ITC) racket. GST officers have busted a racket that fraudulently availed ...

The CBIC also clarified that hotels supplying units of accommodation which have value less than or equal to Rs 7,500 per unit per day, shall not be able to avail ITC on such units, as the GST rate for ...

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 ...

During 2024-25, GST officers have detected 25,009 fake firms involved in fraudulently passing input tax credit (ITC) worth Rs 61,545 crore. GST officers have uncovered fake input tax credit (ITC) ...