The Court allowed the taxpayer to seek stay of recovery by complying with CBIC circular requirements. It held that filing an ...

The High Court examined a tax demand arising from ITC mismatches between GSTR-3B and GSTR-2A. It held that authorities must follow the reconciliation procedure prescribed under CBIC Circular before ...

The government has brought much-needed clarity and a dose of festive cheer with a new GST circular, stating that post-sale discounts are not taxable as services. This is a big win for companies, ...

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 distributors, ...

Global mining conglomerate Vedanta Ltd was hit with Goods and Services Tax (GST) penalties of Rs 141.36 crore for alleged ineligible Input Tax Credit (ITC) availment on Saturday. The Mumbai listed ...

Congress leader Pawan Khera on Thursday took a swipe at Union Finance Minister Nirmala Sitharaman over Goods and Service Tax (GST) and said that even 90 months after the implementation of GST, new ...

The inverted duty structure arises when the rate of tax on inputs exceeds that on output supplies, leading to accumulation of ...

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.