GST circular 251 clarifies input tax credit rules, but distributors face cash flow issues due to excess ITC balances.

The industry may push for a new refund mechanism, but this would be difficult for the government to allow, given the high ...

New GST rates took effect on September 22, 2025, necessitating software updates for registered taxpayers. A step-by-step ...

Experts flag input tax credit blockage for FMCG distributors despite GST relief. Circular shifts compliance, cash-flow ...

Recent GST changes simplify post-sale discounts via Credit Notes, mandate invoice-wise TDS reporting in GSTR-7, impose a 3-year limit on filing old returns, and introduce electronic filing for GSTAT ...

The government's new GST circular clarifies the treatment of trade discounts and credit notes but increases compliance and ...

Infosys has clarified a Rs 415 crore GST notice from the DGGI, stating no pending demands exist. The notice questions input ...

The Goods and Services Tax (GST) rates, revised by the GST Council, became effective on September 22, 2025, necessitating immediate updates to accounting software for GST-registered businesses. , ...

No ITC reversal required for financial credit notes. Explains when discounts are 'consideration' or payment for ...

CERC holds public hearing on GST rate changes impacting power sector, aims for uniform treatment of change in law events.

Hyderabad: The recent GST rate revision may not be all that joyful for students, and in turn parents. In fact, rising costs ...