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The realtor making shopping mall has got the conclusion about clogged credit under the goods and services tax (GST) regime from the Orissa High Court. This shopping mall construction company is contented with the decision as the court has approved input tax credit to it. The issue has been cleared up under Section 17 (5) […]
An AAR (authority for advance rulings) said that the companies can now take the benefits of ITC (Input Tax Credit) in the GST (Goods and Services Tax) reign even if the inputs that have to be paid between them comes from their books after making the amendments. The input also includes the tax that has […]
The high court of Telangana recently ordered that no individual or taxpayer will be getting input tax credit until unless he had filed the GST returns. Also, the court has said that in case he had missed the return filing he is liable to pay the penalty on the tax amount. This would impact the […]
Recently the Telangana High Court didn’t consider the writ petitions of the companies which were facing arrest charges from the GST Commissionerate officials for unethical activities in their return filing.
The manufacturer of wagons and other equipment of railways presented their combative grievance to the finance ministry about the inevitable burden of taxes on vendors and Railways because of not passing the input tax credit (ITC) benefits.
Clarity regarding GST & ITC is much required by any Company and industry, Big or small, as it touches the Economy part of the Businesses. GST Council has constantly endeavoured to make the process crystal clear and gave proper clarification regarding any discrepancy.
Confusions were prevailing in the Food industry and baseless inceptions were being drawn regarding the Sweet shops, as should be considered amongst the dine-out eatery or not. It is the GST Council which had to finally plunge in this scene and the GST Appellate brought the clear picture.
Maharashtra Authority for Advance Ruling has recently ruled out the provision for the input tax credit under the gold schemes which are a sales target oriented form of business practice by the companies.
The FMCG (fast moving consumer goods), retail, food, and pharmaceutical companies can now sigh in relief because the government have read their minds and clarified that the ITC (Input Tax Credit) will also be applicable for promotional schemes like the ‘buy one get one free’ (BOGO) and with the same price and extra quantity.
