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Sunday, Feb 23, 2020

Input tax credit

Dec 11, 2019 00:54
The department’s move comes in the aftermath of the delay in registration of five FIR in the \u20B970 crore bogus GST bill scam by the police read more
Dec 10, 2019 07:22
The actual CGST collection during April-November stood at Rs 3,28,365 crore while the budgeted estimate is of Rs 5,26,000 crore for these months, Minister of State for Finance Anurag Singh Thakur said in a written reply in Lok Sabha on Monday. read more
Sep 20, 2019 21:41
Briefing reporters after a meeting of the panel, Finance Minister Nirmala Sitharaman said the GST on caffeinated beverages has been hiked to 28 per cent plus additional cess of 12 per cent as against the current rate of 18 per cent. read more
Sep 12, 2019 22:04
Some exporters were exporting goods out of India on payment of IGST, done almost entirely out of the Input Tax Credit availed on the basis of “ineligible\/fake” supplies and claiming it as refund on export. read more
Jul 24, 2019 22:19
The officials said further investigation in the matter is in progress and more people involved in the case will be arrested soon. read more
May 26, 2019 10:21
The new rates came into force from April 1 after the GST Council in March approved the proposal in this regard with a view to boosting demand in real estate sector. read more
May 16, 2019 11:38
For the ongoing projects, builders have to decide either to continue with 12 % GST slab with ITC (8 % for affordable housing) or opt for 5% GST rate (1 % for affordable housing) without ITC. read more
May 16, 2019 07:25
That move was delayed while the back-end, the GST network (GSTN), was being made ready for this. Now, government officials directly familiar with the matter say the simplified form is ready, and could be launched by July, soon after the new government... read more
Mar 25, 2019 10:07
In case you see a change in real estate pricing, it is largely due to the GST reduction that happened in February this year and also depends on the market environment. read more
Feb 27, 2019 16:56
The earlier GST rate on under-construction apartments and affordable housing was 12 per cent and eight per cent with input tax credit (ITC), respectively. read more
Feb 25, 2019 00:28
The 40-year-old accused allegedly issued fake invoice of more than \u20B9650 crore and availed input tax credit of \u20B9110 crore, without the actual supply of goods read more
Nov 15, 2018 12:26
According to the I-T department, the three men had obtained GST registrations for non-existent companies that were trading iron and steel scrap and had circulated the fake invoices on the payment of a commission to some iron and steel manufacturers,... read more
Oct 17, 2018 14:48
The commercial tax department is gearing up to lodge FIRs against the 63 bogus firms that have been caught issuing fraudulent invoices (Bills) for around Rs 400 crore turnover evading tax and illegally claiming input tax credit (ITC) on the sale of goods—the... read more
Sep 20, 2018 20:45
The case involves fraudulent issuance of ITC invoices without actual supply of goods, involving evasion of Rs 79.21 crore on the taxable value of concocted supplies of Rs 450 crore. read more
Jul 09, 2018 18:55
The government has invited stakeholders comments on the draft proposals for amending GST laws by July 15, 2018. read more