The CBIC also clarified that hotels supplying units of accommodation which have value less than or equal to Rs 7,500 per unit per day, shall not be able to avail ITC on such units, as the GST rate for ...
Introduced as a symbol of cooperative federalism in 2017, India’s goods and services tax (GST) replaced a fragmented tax system with a unified national indirect tax framework. The reforms approved in ...
B Sumant, the executive director of ITC, said the reforms have been “transformative for both consumers and businesses,” easing compliance and supporting growth. “The GST rate rationalisation across ...
Insurance companies will not get Input Tax Credit on commission or brokerages for individual health and life insurance policies, Central Board of Indirect Taxes & Custom (CBIC) said on Tuesday. It has ...
The e-invoice system was introduced to make the Goods and Services Tax (GST) regime more transparent and technology-driven.