The principle of value-added tax dictates that input tax credit is only available when tax is payable on the output. If a registered person is […]
ITC
A Complete Guide to ITC Allocation and Reversal Under GST Law
The fundamental principle under the GST regime, derived from the concept of value-added taxation, is that input tax credit is allowed only when tax is […]
Understanding ITC Eligibility: Conditions, Requirements, and Guidelines
Input Tax Credit refers to the credit of tax paid by a registered recipient on the purchase of goods or services. This tax is in […]
GST on Hotel Accommodation: Rates, Tax Implications, and ITC Explained
In 2023, the direct contribution of the tourism and hospitality industry to India’s GDP was over 231 billion U.S. dollars. The market size is estimated […]