 "Budget2018, Arun Jaitley")
With Finance Minister all set to present Budget 2018 on February 1, his last full Budget before the general elections 2019, here are some issues he might like to address this year.
Rationalization of input tax credit restriction: Input Credit for the expenses incurred for businesses should be allowed irrespective of the nature of expense whether it is on food, beverages, insurance or cab expenses. If the particular supply is being used in the course or furtherance of business, the taxpayers should have opportunity to avail benefit of input credit on such supply.
RCM on purchases form Unregistered persons:
Rationalization of input tax credit restriction: Input Credit for the expenses incurred for businesses should be allowed irrespective of the nature of expense whether it is on food, beverages, insurance or cab expenses. If the particular supply is being used in the course or furtherance of business, the taxpayers should have opportunity to avail benefit of input credit on such supply.
RCM on purchases form Unregistered persons:
