In a general procedure hearing that was later moved under the informal procedure [1] rules and rendered on December 17, 2024, [2] the Tax Court of Canada (the “Tax Court”) dismissed 267 O’Connor ...
New GST/HST Notice 339, published on October 25, 2024, provides that as of the first day of the fiscal year that begins on or after January 1, 2025, dentists will no longer be able to claim GST/HST ...
Insurers will no longer be able to claim input tax credit (ITC) on Goods and Services Tax (GST) paid on commissions and brokerage for individual health and life insurance policies from September 22, ...
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GST department can freeze your bank account! Here's what you should do if it happens with you
To ensure the integrity of tax collection, the GST department can provisionally seize a taxpayer's bank account. This ...
Good news for GST registered taxpayers who filed GSTR-3B to claim pending input tax credit (ITC) for FY 17-18, 18-19, 19-20 and 20-21 but were prevented from claiming it due to due date related issues ...
The investigation revealed that the company is actively engaged in availing fraudulent Input Tax Credit solely on the basis of invoices without any underlying supply of goods or services. Central GST ...
Mumbai: After the insurance industry lost input tax credit benefits from the recent goods and services tax (GST) exemption, the sector's intermediaries are drumming up support for a ‘zero-rate’ tax ...
Insurance agents and distributors face reduced commissions following the removal of GST on insurance policies. Insurance companies are cutting agent payouts by 15-18% to cover increased operating ...
The High Court directed the Appellate Authority to reconsider ITC claims for FY 2017-18 to 2020-21 under Section 16(5), emphasizing compliance with the October 8, 2024 ...
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