Author: Sundeep Gupta, Baker Tilly ASA India LLP & Lakshay Chhabra, ASA
The Goods and Services Tax (‘GST’) regime in India, implemented on July 1, 2017, has ushered in a transformative era in India’s tax landscape. One of the most impactful features of this tax structure is the seamless flow of Input Tax Credit (‘ITC’) allowing businesses to claim ITC avoiding cascading taxes. As the GST system has evolved, provisions have been introduced to make the tax structure more streamlined and to ensure that businesses are able to optimize their credit utilization.
Published on – Taxmann
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