The law now permits deduction of post-supply discounts even if decided later. This eases commercial flexibility and reduces ...

A recent GST circular clarifies trade discounts and credit notes, easing manufacturers' tax burden but creating cash-flow pressure for FMCG distributors due to accumulated input tax credit.

New GST/HST Notice 339, published on October 25, 2024, provides that as of the first day of the fiscal year that begins on or after January 1, 2025, dentists will no longer be able to claim GST/HST ...

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 ...

Many insurance portfolios still left for insurers to avail input tax credit, says FM Sitharaman as she defends slashing GST to zero (AI-generated image) Defending the GST Council’s move to bring down ...

Healthcare industry lobby group NATHEALTH has welcomed the forthcoming GST reforms, calling them a timely opportunity to revisit the sector’s tax framework, which has largely remained outside such ...

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 ...