India introduced the Goods and Services Tax (GST) on July 1, 2017, marking a historic change in the country's tax system. Before GST, people and businesses had to deal with different indirect taxes ...

The fertilizer industry plans to make a representation to both the Centre and state finance ministers to seek clarity on the inverted duty structure (IDS) that persists in the sector and is likely to ...

Harsh Shah is the Partner, Economic Laws Practice and Ankita Vashistha is Senior Associate, Economic Laws Practice. Ordinarily, taxation involves payment of tax at lower rates on inputs and a ...

GST tax claim: The deadline for claiming any outstanding input tax credit (ITC) or correcting errors or omissions per Goods and Services Tax (GST) regulations for the financial year 2023-24 is ...

A recent GST circular clarifies trade discounts and credit notes, easing manufacturers' tax burden but creating cash-flow pressure for FMCG distributors due to accumulated input tax credit.

MUMBAI: Restaurants that have offset input tax credit (ITC) in respect of liquor sales will be impacted by a recent goods and services tax (GST) advance ruling given by the West Bengal bench. In this ...