GSTN launches offline Excel-based utility to boost Invoice Management System for greater accuracy in ITC claims; Here’s how it can help

GSTN has launched a new offline Excel utility for its Invoice Management System (IMS), aiming to boost accuracy in Input Tax ...
Tax Guru

Immovable Property vs Plant & Machinery: AAAR Rejects ITC Claim in Inox Air Products Case

The issue was whether ITC is available on GST paid for leasehold rights used to build a plant. The ruling held ITC is blocked ...
Hosted on MSN

GST ITC rules: Invoice date doesn't matter, delivery date does; here's why

When the financial year closes, many businesses make bulk purchases in March to optimise their GST outflow, but experts warn that this strategy can backfire. CA Nitin Kaushik explains that input tax ...
Tax Guru

RCM GST Payment: Why Using DRC-03 Can Cost You ITC Loss

Paying RCM tax through DRC-03 does not allow ITC claim, leading to permanent loss. The correct method is through GSTR-3B with self-invoice to preserve ...