Countries implementing value-added tax with credit mechanisms are grappling with the global menace of input tax credit frauds. In an attempt to curb this menace, the GST law introduced various ...

Refund of accumulated tax credit related to imports and inward supplies liable to reverse charge will be cleared by field offices even if the same is not reflected in purchase return Form GSTR-2A, the ...

The Goods and services tax (GST) authorities have blocked input tax credits (ITC) claimed by thousands of businesses to the extent these claims are not corroborated by invoices uploaded by their ...

Finance Ministry on Wednesday clarified by businesses can claim GST refunds by simply submitting a printout of 'GSTR-2A' form to tax authorities instead of giving all purchase invoices of a month.

GST reconciliation mainly includes matching the data uploaded by the traders or sellers with those of the recipient's purchase data. This principally includes comparing the GSTR-2A/2B auto-populated ...