The Union Budget introduces various GST law amendments, notably the Track and Trace Mechanism for goods prone to evasion. A ...

Currently, electric vehicles (EVs) benefit from a reduced GST rate of 5 per cent to promote adoption. However, key components such as lithium-ion batteries are taxed at 18%, creating a financial ...

GST collection has become a significant indicator of the nation's economic health and is anticipated to influence government allocations in key sectors.

BENGALURU: Goods and Services Tax (GST) is crucial for revenue collection, compliance, and economic growth. The Finance Bill ...

Implications for Recipients: The responsibility of reversing the ITC lies with the recipient. Upon acceptance of a credit note, the supplier’s tax liability decreases, and the recipient’s GSTR 2B is ...

ISLAMABAD: The Federal Board of Revenue (FBR) has directed all sales tax registered commercial importers, distributors and ...

GST is payable only on the value representing the margin of the supplier i.e. the difference between consideration received for the supply of such goods and the depreciated value of such goods on ...