You are here: Home » Economy & Policy » News » BS Special
NARCL headhunting for core team begins ahead of launch in July
Exports up 52.39% to $7.71 bn during June 1-7 on healthy shipments growth
Business Standard
Web Exclusive

The ITC tangle on Covid-19 related expenses

Regardless of whether it is incurred for employees or social causes, Input Tax Credit (ITC) being the backbone of GST is a major matter of concern for taxpayers incurring COVID-19 related expenditure

Topics
input tax credit | input tax credit GST | GST

Krishan Arora & Karan Kakkar  |  New Delhi 



tax, input tax, gst
Illustration: Binay Sinha

With India continuing to reel under COVID-19 infections, the term essentials not just imply ‘Roti, Kapda and Makaan’ but has likewise brought within its sphere masks, sanitizer, gloves and many other protective equipment. Corporates are being urged to undertake welfare measures for employees thereby ensuring their well-being and to also support society at large in fighting against this pandemic by providing donations in COVID relief reserves, clinical helps and so forth. This has prompted a sharp rise in expenses of corporates involved in this endeavor.

Disclaimer: Views expressed are personal. They do not reflect the view/s of Business Standard.

TO READ THE FULL STORY, SUBSCRIBE NOW NOW AT JUST RS 249 A MONTH.

SUBSCRIBE TO INSIGHTS

What you get on Business Standard Premium?

  • icon Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
  • icon Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
  • icon Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.
  • icon Pick your 5 favourite companies, get a daily email with all news updates on them.
  • icon 26 years of website archives.
  • icon Preferential invites to Business Standard events.

OR


Subscribe to Business Standard Premium

Exclusive Stories, Curated Newsletters, 26 years of Archives, E-paper, and more!

Insightful news, sharp views, newsletters, e-paper, and more! Unlock incisive commentary only on Business Standard.

Download the Business Standard App for latest Business News and Market News .

First Published: Wed, June 09 2021. 09:32 IST

RECOMMENDED FOR YOU

.