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

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

GST circular clarifies trade discounts and credit notes, benefiting manufacturers, but FMCG distributors face blocked ITC and ...

GST Council's move to two slabs (5%, 18%) makes consumers happy but burdens traders with lakh crore of high-taxed inventory. Relief on revised MRP labels is out, but government is yet to notify rules ...

According to a recent advisory issued by the GSTN, the changes are aimed at reducing disputes, lowering the compliance burden ...

Practical guide to responding to GST notices for ITC reversal. Covers Sections 16/17, Rule 37, 18% interest under Sec 50(3), and payment via DRC-03 for wrongly utilized ...

GSTN has announced major changes to the Invoice Management System (IMS) effective October 2025. Key updates include pending ...

GST 2.0 spans electronics, EVs, drones, and renewables, offering lower costs, clearer policies, and simpler compliance. Its ...

Senior government source said anomaly of tax-free notebooks and 18 percent levy on paper inputs will be corrected in next GST ...

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

If you are a goods and services tax (GST) registered taxpayer and want to claim any pending input tax credit (ITC) for FY 2023-24 or amend any errors or omissions under GST then note the last date to ...