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Input tax credit
What's mean by ITC
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You / Anybody ll buys goods with tax. He ll be give tax at the time of Purchase...
The purchase tax is in his hand (Input Tax , Govt ll be given relaxation for the tax for adjust his Sales related taxes.)
So, They get ITC and adjust his liabilities...
The purchase tax is in his hand (Input Tax , Govt ll be given relaxation for the tax for adjust his Sales related taxes.)
So, They get ITC and adjust his liabilities...
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