The telecom department has asked the finance ministry to consider refunding input tax credits (ITC) that telcos have accumulated under the goods and services tax regime, two officials aware of the matter said. Though GST rules permit companies to claim refunds for taxes paid on inputs, telecom infrastructure remains specifically excluded.
Source: a2ztaxcorp.com
Latest Posts in "India"
- Indian Life Insurers Expand VNB Margins Despite GST-Related ITC Loss
- Gujarat High Court Upholds GST on Corporate Guarantees but Restricts Valuation and Retrospective Application
- Rajasthan Amends VAT Rules with New Digital Return Form and Declaration Requirement
- Supreme Court Upholds Telecom Towers as Movable Property for GST Credit
- India May Cut GST on Small Modular Reactor Components to 5%
