FICCI, Assocham seek input tax credit under CGST on commercial properties meant for leasing purposes
Industry bodies FICCI and Assocham have demanded that real estate developers should be allowed to claim Input Tax Credit (ITC) under the Central Goods and Services Act (CGST) on commercial assets ...
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Insurers want GST to continue on term plans
The life insurance industry has argued that the move will result in withdrawal of input tax credit (ITC ... premium which will not fully meet the objective of govt to provide life insurance ...
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A look back: A company’s claim for input VAT
Thus, it is important for taxpayers to adequately substantiate their claims for input tax credits and comply within the prescribed time limits set by the Bureau of Internal Revenue (BIR), which ...