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Input Tax Credit (ITC) is one of the most important benefits available under the Goods and Services Tax (GST) system in India. ITC helps businesses reduce their overall tax burden by allowing them to claim credit for the GST paid on purchases and business expenses. However, not all expenses qualify for ITC. Certain expenses are specifically restricted or blocked under Section 17(5) of the CGST Act. Understanding which ITC claims are allowed and which are blocked is essential for businesses to maintain proper GST compliance, avoid notices, and prevent unnecessary penalties. In this blog, we will explain the concept of ITC, eligible claims, blocked credits, common mistakes, and best practices for businesses. What is Input Tax Credit (ITC)? Input Tax Credit means the credit of GST paid on purchases, services, or expenses used for business purposes. Businesses can utilize this credit to reduce their GST liability payable on sales. For example: A business purchases raw materials worth ₹1,00...

The Goods and Services Tax (GST) system in India has undergone several transformations since its implementation. Over the years, the GST Council and tax authorities have continuously worked toward improving transparency, reducing tax evasion, and strengthening compliance mechanisms. In another significant development, the government is reportedly considering restricting manual editing in GSTR-3B returns by making the return fully auto-populated from GSTR-1 and GSTR-2B data. This proposed move is expected to bring major changes in the GST filing process for businesses across India. If implemented, taxpayers may no longer be able to manually alter tax liability or Input Tax Credit (ITC) figures while filing GSTR-3B. Instead, the values would automatically flow from the outward supply details filed in GSTR-1 and the ITC reflected in GSTR-2B. Although the official notification and GST Council approval are still awaited, businesses should start preparing for this compliance shift to avoid f...

The Goods and Services Tax (GST) regime has transformed India’s indirect taxation system by creating a unified tax structure across the country. Since its implementation in July 2017, GST has streamlined taxation, improved compliance, and reduced cascading taxes. However, one of the biggest challenges faced by taxpayers and businesses under GST has been the delay in resolving disputes and appeals. In a major step toward strengthening the GST legal framework, the Government has officially constituted Goods & Services Tax Appellate Tribunal (GSTAT) benches across multiple states and cities in India. This development is expected to significantly improve the GST dispute resolution mechanism and bring long-awaited relief to businesses and taxpayers. The constitution of GSTAT benches marks a crucial milestone in the operationalization of GST appellate proceedings and is expected to create a faster, more transparent, and structured appeal process under GST law. Understanding GSTAT The Goo...

Tax compliance is an essential responsibility for every business operating in India. Among the various compliance requirements under the Income Tax Act, filing of TCS returns is one of the most important obligations for sellers and collectors covered under Tax Collected at Source (TCS) provisions. With the due date for filing the quarterly TCS Return for the period January to March 2026 approaching on 15th May 2026 , businesses must ensure timely and accurate filing to avoid penalties, notices, and unnecessary complications. In today’s fast-changing tax environment, staying updated with filing deadlines and compliance procedures is critical for maintaining smooth business operations. Delayed or incorrect filing may not only result in penalties but may also affect customer trust, tax credits, and future assessments. This article explains everything businesses need to know about TCS returns, due dates, compliance requirements, penalties, and best practices for smooth filing. What is TCS ...