Report Wire

Tag: gst itc dues

  • Taxpayers can discharge March GST dues with ITC

    The Finance Ministry stated Satur­day GST taxpayers might use the ITC out there of their credit score ledger to discharge GST dues for March.
    In an announcement, the Central Board of Indirect Taxes and Customs (CBIC) stated, “Taxpayers are free to utilise the Input Tax Credit (ITC) available in their credit ledger, as permissible in law, to discharge their GST dues for the month of March, 2021 — the last month of this financial year.”
    Last month, the Goods and Services Tax (GST) mop-up crossed the Rs 1 lakh crore mark for the fifth month in a row.