Tax Guru

Whether Supplier Can Reduce Output Tax Liability Through Credit Note When Recipient Becomes Unregistered?

Explains how suppliers may face denial of output tax reduction when recipients cannot reverse ITC after deregistration. Highlights the risk of double tax benefit and need for ...

Industries urge GST Council to allow inverted duty refunds on input services

Industries urge the GST Council to permit refunds on input service taxes, addressing structural disadvantages for ...
Nasdaq

Reliance Fined For Incorrect Availment Of Input Tax Credit

(RTTNews) - Reliance Industries Limited (500325, RELIANCE) has received an order from the Deputy Commissioner of State Tax, Jamnagar, India imposing on the company a penalty of Rs. 1.11 crore alleging ...
Tax Guru

Negative ITC Blocking Invalid as Rule 86A Applies Only to Available Credit: P&H HC

The issue was whether authorities can block ITC beyond available balance. The Court held that Rule 86A allows restriction ...

Loss of input tax credit, policy changes weigh on life private insurers’ Q4 margins, profitability

Margins may stay under pressure in H1, with stocks correcting by 8-22% from their 52-week highs, and valuation premiums ...