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. The introduction of GST brought about ...

Explains the legal situations where suppliers can correct excess GST through credit notes. Highlights that reduction in tax liability is conditional on timelines, ITC reversal, and absence of unjust ...

November 30, 2024, is the last date to claim any pending input tax credit (ITC) or amend any errors or omissions in compliance with the Goods and Services Tax (GST) rules and regulations for FY ...

The Fertilizer Association of India (FAI) has urged the Centre to bring Goods and Services Tax (GST) rate on ammonia and sulphuric acid, which are key raw materials in the production of di-ammonium ...

The finance ministry on Tuesday issued clarifications on input tax credit rules under the revised GST framework effective September 22, tightening provisions for insurers, hotels and select service ...

Two months after the government reduced GST on solar modules from 12 percent to 5 percent, developers say the relief has been minimal, because, in practice, the lower rate has limited their ability to ...

The Revenue Department, under the Ministry of Finance, may restrict any editing or manual intervention in GSTR-3B. According to sources, a major reform will be rolled out in two phases, with GSTR-3B ...

Kolkata: The government's recent circular has brought clarity on trade discounts and credit notes under the GST regime, but has shifted compliance obligation and cash-flow pressure onto FMCG ...

The challenge is particularly acute for companies with a narrow product portfolio, where rates across most products have been reduced to 5%. The current ITC refund mechanism does not take into account ...

When the goods and services tax (GST) was introduced in 2017, it promised “one nation, one tax.” Over time, though, it became cluttered—multiple rates, inverted duty structures and compliance ...

The Coal Ministry, in a statement issued on Monday (September 22, 2025), said that the reforms finalised at the 56th Council of the meeting, most of which came into force on September 22, would help ...