The guide clarifies when GST liability shifts to the recipient under RCM for GTA and renting services. The key takeaway is that correct classification and notification-based conditions determine tax ...
The Court ruled that recovery under Section 75(12) cannot be used where wrongful ITC utilisation is alleged. It held that such cases require adjudication under Sections 73 or 74 before recovery ...
Opinion
5dOpinion
GST reform urgency: India must mend the chain of input tax credit that’s holding its economy back
India’s GST is failing to act as a tax on value addition, since its credit system has got bent out of shape. Cascades don’t just burden enterprise, they push exports back, distort value chains and ...
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Profit Explains: Why GST Cuts On Insurance Without Input Tax Credit Will Not Bring Down Premiums
Prime Minister Narendra Modi had announced a two-slab GST structure that could help rev up consumption and streamline indirect taxation, in a move that could be the most significant overhaul of the ...
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GST exemption on insurance: Why Input Tax Credit loss worries insurers and what it means for your policy cost
The government’s decision to exempt health and life insurance premiums from the 18 per cent Goods and Services Tax (GST), effective September 22, 2025, has been welcomed as a big step toward ...
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