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Answers to common client doubts, official clarifications, practical explanations, and simplified terms.
One of the biggest advantages of the GST regime is the availability of Input Tax Credit (ITC), which allows businesses to reduce their GST liability by claiming credit for tax paid on purchases and expenses used in business. However, GST law also specifies certain expenses on which ITC cannot be claimed. These are known as […]
Blocked ITC Under GST: Understanding Ineligible Input Tax Credit Read More »
⚠️ Input Tax Credit (ITC) is one of the biggest benefits in GST, but many businesses lose it due to small mistakes. 📌 What is ITC? ITC means the tax you paid on purchases can be claimed as credit to reduce your GST liability on sales.👉 Example:If you paid GST ₹10,000 on purchase and ₹15,000
📢 GST UPDATE – ITC CLAIM RESTRICTIONS (Detailed Guide) Read More »
🔍 Overview The Central Board of Direct Taxes (CBDT) has issued Notification No. 74/2025 – Income Tax on 11th July 2025, announcing an important amendment under Section 10(23FE) of the Income-tax Act, 1961. This section provides income-tax exemption to specified persons, mainly sovereign wealth funds (SWFs) and pension funds making eligible investments in India. ✅
CBDT Notification No. 74/2025 – Income Tax (Dated: 11th July 2025) Read More »