Courts clarify that ITC can be blocked only on recorded “reasons to believe” supported by concrete evidence. Mere suspicion or supplier default is insufficient to invoke Rule ...
The CBIC has come out with guidelines on blocking of tax credit by GST field officers, saying that such blocking should be on the basis of 'material evidence' and not just out of 'suspicion'. The ...
Earlier, Section 24 of the CGST Act mandated compulsory registration for certain categories—most notably entities liable to ...
Editorial Note: Forbes Advisor may earn a commission on sales made from partner links on this page, but that doesn't affect our editors' opinions or evaluations. The introduction of GST brought about ...
When the financial year closes, many businesses make bulk purchases in March to optimise their GST outflow, but experts warn that this strategy can backfire. CA Nitin Kaushik explains that input tax ...
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