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input tax credit

ITC / Input 90 views 3 replies

Mohammad Mir

8 Points Posted on 02 October 2017

What is input tax credit.. And who can claim input tax credit

Replies (3)

RAJA P M

"Do the Right Thing...!!!"

128147 Points Posted on 02 October 2017

All inward supplies from a Registered Regular dealer is we get Tax credit.. The Tax amount is Input Tax Credit. Bcoz, The amount from our pocket....

In GST regime, who is register under regular scheme they can claim the Input Tax Credit... Other dealers can't claim ITC...

Mohammad Mir

8 Points Posted on 02 October 2017

Only supplies or on services

RAJA P M

"Do the Right Thing...!!!"

128147 Points Posted on 02 October 2017

Both ll be applicable. So, Only it's called GOODS and SERVICES TAX...
So,
You / We can enjoy both credits under GST...

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