The government has clarified that input tax credit (ITC) can be fully utilised to offset output tax liabilities under GST 2.0 ...

Understand Input Tax Credit (ITC), a key component of the GST system. Learn how it prevents cascading taxes, its rules, benefits, and challenges for ...

Learn if a GST rate reduction requires ITC reversal under Section 18(4) of the CGST Act. This article clarifies that ITC reversal is not needed for reduced tax ...

Experts say the issue of GST reduction without the benefit of input tax credit may affect insurance and other services ...

The GST Council’s shift to a two-slab system may look consumer-friendly with lower rates, but denial of Input Tax Credit (ITC) in key sectors risks raising costs for businesses and, ultimately, ...

"ITC on group health and life insurance policies may be taken up for discussion. But there is no proposal to exempt these ...

The move is expected to make life insurance and health products more affordable and encourage wider adoption, particularly ...