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Input tax credit News

02 Mar 2021

Man arrested in Delhi for input tax credit fraud of Rs 38.91 crore

The officers of CGST Commissionerate, Delhi East have held a man for the Input Tax Credit fraud of Rs 38.91 crore. The investigation revealed that the multilayered network was being operated by him. He has also confessed to having created a fake firm in his own name.

Finance Ministry

03 Jan 2019

FinMin allows biz to claim GST input credit benefit for FY'18 till March 2019

The deadline for claiming input tax credit (ITC) ended on October 25, 2018.

Goods and Services Tax

25 Nov 2017

Restaurants overcharging you despite GST rate cut? Here's what to do

If you feel that restaurants are overcharging you despite GST rate cut, you can flag your grievances on several platforms.

21 Aug 2017

Banks to pay 3% IGST on gold imports: CBEC

Import of gold attracts a 10 per cent basic customs duty. On top of that a 12.5 per cent countervailing duty (CVD) was levied prior to GST.

Revenue Secretary Hasmukh Adhia

31 Jul 2017

Over 5 lakh businesses opt for GST Composition Scheme: Official

Manufacturers of ice cream, pan masala, tobacco products/susbtitutes and service providers, except restauranteurs, are not eligible to avail of the Composition Scheme.

19 Jul 2017

Taxmen to go slow on GST enforcement for 6 months

Revenue authorities will go slow in undertaking enforcement actions under GST for the first six months as they want industry to settle down into the new indirect tax regime.

01 Jul 2017

GST effect: Pay more to buy home appliances from July 1

Durable makers would also go for another hike before the festive seasons as the industry is considering a price revision based on input credit, when their existing stock of raw materials and components would replenish.

26 May 2017

Cut prices, pass GST benefits to customers: Govt tells telcos

The finance ministry on Friday asked telecom companies to rejig costs and lower prices to pass on the benefits of tax rate reduction under GST to customers from July.

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