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Tag: Input Tax Credit

GST Fraud Involving Rs 294 Crore Fake Invoices Busted In Odisha

Bhubaneswar: The enforcement wing of the Commissionerate of GST and Commercial Tax on Thursday busted a major fraud in which fake invoices to the tune of Rs 294 were generated by 11 dealers in Bhubaneswar to evade GST. Two persons- Pramod Sahu and Vikash Sarogi have been arrested on the charges of generating fake invoices […]

Nirmala Sitharaman
Developers want Budget to ease liquidity, make changes in GST

New Delhi: As the new Finance Minister Nirmala Sitharaman presents the Union Budget for the fiscal 2019-20 on July 5, the real estate players want the Budget document to feature steps to improve the liquidity situation with a proposal to re-introduce Input Tax Credit (ITC) for under-construction properties. In their pre-Budget memorandum, the real estate […]

New MRP should consider input tax credit under GST: Government

New Delhi: The government on Saturday said the new MRP on products manufactured, packed or imported before July 1 should take into consideration extra availability of input tax credit under GST. “The declaration of new MRP on unsold stock manufactured, packed, imported prior to July 1 should not be done mechanically but after factoring in […]