Ritc (reverse input tax credit)
This query is : Resolved
06 June 2014
Dear All,
What is reverse input tax credit, what is its use in Sales tax as I m aware a little bit but need a explanation please provide me a link if possible....
What is reverse input tax credit, what is its use in Sales tax as I m aware a little bit but need a explanation please provide me a link if possible....
06 June 2014
it means the tax credit already taken is now to be given back to the dept for some reason....in simple words like when u got the refund is now refundable to them.
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