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# constructionindustry

1 posts in `constructionindustry` tag

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GST

Major ITC Changes Unveiled at 55th GST Council Meeting: Impacts on Key Industries

Important modifications to the Input Tax Credit (ITC) regulations were introduced during the 55th GST Council Meeting, which had a big effect on the auto and construction sectors. Clarifications of eligibility, limitations on ITC for personal use, sector-specific actions, and improved compliance procedures are some of the most important revisions. The purpose of these modifications is to promote transparency in GST compliance and expedite ITC applications.