The High Court ruled that buyers are not legally required to reverse ITC merely due to seller-issued discount credit notes. Rectification of GST returns was allowed where tax paid exceeded proposed ...
The law now permits deduction of post-supply discounts even if decided later. This eases commercial flexibility and reduces ...
Insurers will no longer be able to claim input tax credit (ITC) on Goods and Services Tax (GST) paid on commissions and brokerage for individual health and life insurance policies from September 22, ...
In recent years, several Indian subsidiaries of multinational corporations have received show cause notices (SCNs) from GST ...
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