The meaning of ITC can be easily understood when we take the words ‘input’ and ‘tax credit into consideration’. Inputs are materials or services that a manufacturer purchases in order to manufacture ...

Editorial Note: Forbes Advisor may earn a commission on sales made from partner links on this page, but that doesn't affect our editors' opinions or evaluations. The introduction of GST brought about ...

As an entrepreneur, every rupee saved is a rupee earned. Managing business expenses wisely is crucial, and leveraging the Input Tax Credit (ITC) system under GST can significantly reduce your tax ...

New GST rates took effect on September 22, 2025, necessitating software updates for registered taxpayers. A step-by-step ...

“A back-of-the-envelope calculation suggests a 3-5% hike in tariffs (for new and existing retail ... the insurers are likely to lose a significant cost offset. The input tax credit is a form of credit ...