The Factories Act, 1948, is a crucial legislation enacted to regulate the conditions of work in factories, ensuring the health, safety, and welfare of workers. […]
ITC
Key Reasons Behind Input Tax Credit Mismatch in GSTR-3B and GSTR-2A Returns
Input Tax Credit (ITC) is a fundamental component of the Goods and Services Tax (GST) regime, designed to eliminate the cascading effect of taxes and […]
ITC Claim Legitimacy from July 2017 to September 2022 When Supplier Hasn’t Paid GST
The introduction of the Goods and Services Tax in India on 1 July 2017 represented one of the most significant tax reforms in the country’s […]
ITC Eligibility for Canteen Services Provided Under the Factories Act
The Factories Act, 1948,, is one of the key legislations governing industrial establishments in India. Among its various provisions aimed at ensuring the welfare, safety, […]
CBIC Circular No. 04/2021: Rule 86A Guidelines on Blocking Input Tax Credit
The implementation of Rule 86A under the Central Goods and Services Tax (CGST) Rules marked a significant step in curbing the fraudulent use of input […]
GST Rule 37A and ITC Reversal: Key Insights from the Latest GSTN Advisory
The introduction of the Goods and Services Tax was intended to simplify indirect taxation in India and bring in a unified framework of compliance and […]
GST Input Tax Credit Explained: Complete Guide to Claiming ITC under GST
The Goods and Services Tax was introduced in India as a transformative reform that aimed to simplify the indirect tax structure, integrate multiple levies, and […]
Understanding Allocation and Reversal of Input Tax Credit (ITC) Under GST
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 […]
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 […]