CBIC

Equalisation Levy

Equalisation Levy

RECENT AMENDMENT IN EQUALISATION LEVY Equalisation Levy was introduced in India in 2016, with the intention of taxation the digital transactions i.e. the income accruing to foreign e-commerce companies from India. It is aimed at taxing business to business transactions. Over the past few years, Information Technology has gone through an exponential expansion phase in …

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Restriction to avail ITC under CGST

Restriction to avail ITC under CGST

Restriction to avail ITC under CGST includes Capital goods,Works contract service,Motor Vehicles,Outdoor catering and certain other services. SECTION 16(2) (aa)-RESTRICTION TO AVAIL ITC UNDER CGST Section 16 of The Central Goods and Services Tax, Act, 2017 (“CGST Act, 2017”) provides that subject to such conditions and restrictions as may be prescribed and, in the manner, …

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