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 ...
The issue was whether ITC could remain blocked under Rule 86A for nearly three years. The Court ruled that the restriction ...
The Government of India has made a lot of changes in the rules of Goods and Services Tax. Under this, the Input Service Distributor System is going to be implemented from 1 April 2025. The main ...
New GST/HST Notice 339, published on October 25, 2024, provides that as of the first day of the fiscal year that begins on or after January 1, 2025, dentists will no longer be able to claim GST/HST ...
The document identifies how discretionary powers, rigid procedures, and GST portal limitations undermine Ease of Doing Business. It calls for system-driven reforms to reduce litigation, duplication, ...
The CBIC has come out with guidelines on blocking of tax credit by GST field officers, saying that such blocking should be on the basis of 'material evidence' and not just out of 'suspicion'. The ...
Both sales tax and GST are indirect taxes, meaning they are charged on transactions (purchases) instead of income, and the cost is ultimately paid by the person who buys the final product. The ...
7dOpinion
Managing the small things
Swami Vivekananda once said if you really want to judge the character of a man, “Watch a man do his most common actions; ...
Excessive rains in many parts of the country and transition to new GST rates posed operational challenges, especially for the FMCG categories, causing short-term business disruptions during the ...
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