India’s Supreme Court (SC), in a decision published on 13 March 2023, held that a purchaser claiming eligibility for the input tax credit (ITC) under the Karnataka Value Added Tax Act, 2003 (KVAT Act) has the burden of proving the genuineness of the purchase transaction.
Source Deloitte
Latest Posts in "India"
- Key GST Amendments Proposed in Finance Bill 2026: Discounts, Refunds, Appeals, and SEZ Clarifications
- How to Consolidate Multiple Deliveries into a Single Invoice for Simplified Billing and Payments
- Seven Arrested for Rs 7 Crore GST Fraud Using Fake Firms and Invoices
- Step-by-Step Guide to Filing GSTR-1A for Invoice Corrections and Amendments in 2024
- Streamlining Delivery Challan to Invoice Conversion for MSMEs: Legal Compliance and Automation Guide
