Judicial precedents confirm that where goods or services support taxable supplies, only proportionate ITC reversal is permitted. Complete denial of credit would violate the value-added taxation ...
Insurers will no longer be able to claim input tax credit (ITC) on Goods and Services Tax (GST) paid on commissions and brokerage for individual health and life insurance policies from September 22, ...
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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 ...
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 ...
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