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 ...

A new Budget amendment necessitates suppliers to ensure buyers reverse input tax credits (ITC) before claiming adjustments ...

Though most strive to be responsible, there may be reasons why some drivers are late with car notes. Luckily, this may not be reported to the credit bureaus right away. Still, missing too many can ...

A new Budget amendment necessitates suppliers to ensure buyers reverse input tax credits (ITC) before claiming adjustments when issuing a credit note. This change aims to prevent revenue leakage ...