Hosted on MSN

GST taxpayers can't claim pending input tax credit if GSTR 3B is not filed by this date for FY 2023-24

If you are a goods and services tax (GST) registered taxpayer and want to claim any pending input tax credit (ITC) for FY 2023-24 or amend any errors or omissions under GST then note the last date to ...

Relief from GST annual return filing for these taxpayers; Know its impact

Small businesses with turnover up to Rs 2 crore are exempt from filing GST annual returns starting FY 2024-25, offering ...
Tax Guru

GST Council Rate Cuts Reduce Inverted Duty Structure Refunds

GST Council Meeting reduced rates on over 100 goods to correct Inverted Duty Structure (IDS), aiming to cut ITC refunds and propose 90% provisional refunds for faster cash ...
The Financial Express

Input Tax Credit effect: Why the GST cut may backfire for end-consumers in many sectors

The GST Council’s shift to a two-slab system may look consumer-friendly with lower rates, but denial of Input Tax Credit (ITC ...
Indiatimes

Builders get GST notices to reverse input tax credit

Ahmedabad: The GST department has issued notices to hundreds of builders asking them to reverse their input tax credit (ITC). The notices were issued for the years 2017-18 and 2018-19. The department ...