Input Tax Credit (ITC) is a key feature of India’s Goods and Services Tax (GST) system. It enables registered taxpayers to reduce their tax liability by claiming credit for the GST paid on purchases or expenses incurred in the course of business. To claim ITC lawfully and accurately, specific conditions must be met and proper documentation must be maintained. A registered person, including an Input…
Since its rollout in 2017, the Goods and Services Tax (GST) has seen several structural refinements. One of the most anticipated reforms currently under discussion is GST rate rationalisation, aimed at simplifying the tax structure and addressing long-standing concerns from industry stakeholders. How GST is Currently Structured Currently, the GST regime consists of four primary tax slabs—5%, 12%, 18%, and 28%—along with exempted and zero-rated…
Have you ever stared at a GST demand order and wondered how long the appeal would drag on—or how many trips to different offices it would take? Those days might be numbered. On 24 April 2025, the Government of India switched on the long-awaited Goods and Services Tax Appellate Tribunal (GSTAT) and, with it, a fully digital portal that promises to make tax disputes quicker,…
