Judicial precedents confirm that where goods or services support taxable supplies, only proportionate ITC reversal is permitted. Complete denial of credit would violate the value-added taxation ...
New GST/HST Notice 339, published on October 25, 2024, provides that as of the first day of the fiscal year that begins on or after January 1, 2025, dentists will no longer be able to claim GST/HST ...
Insurers will no longer be able to claim input tax credit (ITC) on Goods and Services Tax (GST) paid on commissions and brokerage for individual health and life insurance policies from September 22, ...
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GST exemption on insurance: Why Input Tax Credit loss worries insurers and what it means for your policy cost
The government’s decision to exempt health and life insurance premiums from the 18 per cent Goods and Services Tax (GST), effective September 22, 2025, has been welcomed as a big step toward ...
Courts have increasingly held that Input Tax Credit cannot be denied to bona fide taxpayers merely because suppliers failed to pay GST. Authorities must prove fraud or collusion before disallowing ...
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