On June 9, 2022, the Tax Court of Canada (“TCC”) allowed CFI Funding Trust’s (“CFI”) appeal in relation with the input tax credits (“ITC”) it claimed for prepaid rent paid in connection with the ...

The Court held that interest under reverse charge cannot be recovered without prior adjudication. Coercive recovery was set ...

The government’s recent circular has brought clarity on trade discounts and credit notes under the GST regime, but has shifted compliance obligation and cash-flow pressure onto FMCG distributors, ...

Starting April 1, a significant change is imminent in the GST system with the enforcement of the Input Service Distributor (ISD) mechanism. This mandatory alteration is designed to ensure that state ...

The loss of input tax credit after GST on life and health insurance was cut to nil is expected to pressure life insurers' ...

Both sales tax and GST are indirect taxes, meaning they are charged on transactions (purchases) instead of income, and the cost is ultimately paid by the person who buys the final product. The ...

A recent GST circular clarifies trade discounts and credit notes, easing manufacturers' tax burden but creating cash-flow pressure for FMCG distributors due to accumulated input tax credit.