Explains the legal situations where suppliers can correct excess GST through credit notes. Highlights that reduction in tax liability is conditional on timelines, ITC reversal, and absence of unjust ...
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 ...
The investigation revealed that the company is actively engaged in availing fraudulent Input Tax Credit solely on the basis of invoices without any underlying supply of goods or services. Central GST ...
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.
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