The Goods and Services Tax Laws was introduced in India in 2017 aiming to simplify the tax structure by subsuming various ...

Following the rejig of Goods and Service Tax (GST) on Wednesday, which exempts individual life and health insurance, firms offering these services will have to reverse the Input Tax Credit (ITC) ...

Ahead of GST Day on July 1, industry body PHD Chamber of Commerce has raised the issue of blocking input tax credit and said the buyer should be allowed to claim credit for taxes paid on inputs, even ...

LIC Managing Director Ratnakar Patnaik on Monday pitched for exempting life insurance sector from Goods and Services Tax as it would help insurers claim input tax credit. Patnaik also welcomed the ...