The CBIC has clarified that automobile dealers can claim input tax credit (ITC) under GST for demo cars used to promote sales. However, ITC is not available if these vehicles are used for personal ...

GST registered taxpayers can claim pending input tax credit relating to past years namely financial year 2017-18, 18-19, ...

Restaurateurs and hoteliers, represented by the FHRAI and NRAI, continue to push for reforms, including a new GST slab with ...

Both federal and state governments give tax credits, such as the Child Tax Credit or Lifetime Learning Credit, in order to ...

The Clarification of Input Tax Credit Under Ex-Works Contracts: A New Chapter in GST Compliance ...

NRAI seeks industry status, input tax credit restoration, and policy support from government for restaurant sector growth.

The new year 2022 is going to bring a significant change in the manner of availing Input Tax Credit (ITC) by the taxpayers under the Goods and Services Tax Act. The additional condition to avail ...

When it comes to reducing your tax bill, don't overlook refundable tax credits. These credits, which can be worth more than you owe in taxes, are a powerful way to slash your bill and potentially ...

input tax credit and sops for firms that adopt energy efficient practices. Budget 2024 will be presented by Finance Minister Nirmala Sitharaman on February 1. Given that this Budget comes ahead of ...

The Law Committee, a key body responsible for interpreting and advising on GST-related legal issues, recently held a meeting to address queries regarding the reversal of Input Tax Credit (ITC ...