Budget Gst News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Companies with branches in multiple cities will now need to register for input service distribution (ISD) to claim input tax credit for services provided by the head office to the branch office. The interim budget proposed to make this rule mandatory, besides the requirement of a separate registration that allows headquarters of companies to distribute their input tax credit with their branch offices.

India's transformation through technology, specifically in tax administration, serves as a global example. The government is leading this change, enabling businesses to achieve accuracy, timeliness, and efficiency. The expansion of e-invoicing requirements has increased transparency in statutory reporting, with millions of taxpayers now covered under real-time reporting. The government leverages big data for reconciliations, audits, and pattern recognition

The petroleum industry in the country has urged the government to bring natural gas under the ambit of GST regime