The 13-member GoM in its report submitted to the GST Council in December had recommended a GST exemption for premiums paid on pure term life insurance policies.

This reduction rather than a complete waiver in GST on gross insurance premium will be beneficial for both policyholders as ...

The government is introducing the Input Service Distributor (ISD) system from April 1, 2025, to improve tax collection on ...

The Government of India has made a lot of changes in the rules of Goods and Services Tax. Under this, the Input Service ...

The Firm accepts no responsibility or liability (whether by statute, in equity, in tort or otherwise) for any loss or damage (economic or otherwise) suffered by any person who relies or acts upon any ...

The Input Tax Credit (ITC) allows you to claim credit for the GST paid on business-related purchases. Whether it is raw ...

Rule 86B was introduced under the GST regime to curb fake invoicing practices. It mandates that: “Notwithstanding anything ...

The Input Service Distribution (ISD) mechanism will enable businesses with branches in multiple states to consolidate invoices for common input services (domestically sourced or imported) at a central ...

Goods and Services Tax (GST) is an indirect tax system implemented in India to replace multiple cascading taxes levied by the central and state governments. It is a comprehensive, multi-stage ...

The Group of Ministers (GoM) on GST rationalisation is reviewing a proposal to lower the tax on key agricultural inputs such as drip irrigation systems, fertilisers and pesticides, Finance ...