Latest Updates on Input Tax Credit Policies and Compliance Central Delhi
- Location: Central Delhi, Delhi, India
In 2024, input tax credit (ITC) policies under GST have undergone updates focused on compliance and simplified eligibility. Recent changes emphasize more stringent verification procedures to combat ITC fraud. Businesses now need to ensure timely invoice matching and filing of GST returns, as delays can result in ITC ineligibility. Additionally, the government has introduced new digital tools and automation features in the GST portal to help businesses reconcile their input and output tax credits more effectively. These updates are aimed at ensuring transparency and encouraging businesses to maintain accurate records to avoid penalties.
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