Builders under the 1%/5% GST regime must still meet the 80% registered procurement rule. Non-compliance attracts cash RCM ...

For purposes of determining the inclusion ratio, every individual is allowed a GST exemption (the base figure is adjusted annually for inflation). The amount is $13.99 million in 2025, $13.61 million ...

The Goods and Services Tax (GST) in India is an indirect tax that has replaced many previous indirect taxes such as excise duty, VAT, and service tax. GST is levied on the supply of goods and services ...

As Budget 2026 draws closer, expectations are rising that the government may simplify personal income tax the way it streamlined GST. With GST moving towards fewer, broader rates over the past year, ...

Editorial Note: Forbes Advisor may earn a commission on sales made from partner links on this page, but that doesn't affect our editors' opinions or evaluations. Pexels The Goods and Services Tax (GST ...

The GST Council has approved a significant overhaul of the Goods and Services Tax regime, reducing tax rates on numerous common use items and simplifying the tax structure to boost domestic spending.

This explains when ITC becomes ineligible under Section 17(5)(h) due to expiry or destruction of goods. The key takeaway is that ITC reversal is mandatory and ...

New GST Rate Full List of Items: The Goods and Services Tax (GST) rates have been put into action from September 22nd. The reforms are intended to simplify the tax structure and affect a wide range of ...