The GST returns under the new rules will begin starting from next week. Earlier this month, the GST Council had announced updates in its GST refund policy, which restricts the ITC amount to a maximum of 20% of the claim amount in case of suppliers have not uploaded documents or details in...
ITC Claim can be easier than you think, courtesy to IRIS Sapphire, the preferred GST solution of top organizations across the country. Built with advanced algorithms and fuzzy logic, IRIS Sapphire helps you reconcile your purchase data with government records, with no-hassles guaranteed. It swiftly...
Input Tax Credit (ITC) is a mechanism that allows businesses to claim credit for the tax they’ve paid on their purchases. Input Tax Credit in GST ensures that companies are only taxed on the value they add at each stage of the supply chain, not on previous stages of production. By usi...
The Van may be registered in the name of Partner with the RTO ( since Partnership Firm is not a separate legal entity ), but only ensure that the Invoice is issued in the Firm's name with the GSTIN. You can also claim Depreciation ( as per Section 32 of the Income Tax Act 1961 )...
One company is booking air ticket through air line agent for its emloyee for official tour purpose company is exploring the option to ask airline agent to give its GSTIN to the airline company while booking the ticket and take ITC Is it right Currently a