Tax Guru

Inter-play between Input Tax Credit and IBC

This piece examines how restrictive provisions under GST law limit refund of unutilised ITC during insolvency, despite ...
Nasdaq

Reliance Fined For Incorrect Availment Of Input Tax Credit

(RTTNews) - Reliance Industries Limited (500325, RELIANCE) has received an order from the Deputy Commissioner of State Tax, Jamnagar, India imposing on the company a penalty of Rs. 1.11 crore alleging ...
Tax Guru

Negative ITC Blocking Invalid as Rule 86A Applies Only to Available Credit: P&H HC

The issue was whether authorities can block ITC beyond available balance. The Court held that Rule 86A allows restriction ...
Hosted on MSN

Insurers cut agent fees by 18% to offset input tax credit loss

MUMBAI: Following the complete removal of 18 percent GST on retail life, health and accident cover insurance policies, some leading private insurers slashing the agent commission by 18 percent to pass ...
News24

Big blow to Mukesh Ambani’s Reliance: Who slapped Rs 1538402 penalty and why, what step will company take now?

Reliance Industries receives Rs 15.38 lakh GST penalty notice from Gujarat over alleged wrong input tax credit claims, plans ...