input tax credit
how can input tax credit
Replies (4)
Sales Tax (-) Purchase Tax (ITC).....
input tax credit mens any tax which is payable on receipt of goods and service by a registered person. allow as a deduction from output tax on outward supply.
input tax credit mens any tax which is payable on receipt of goods and service by a registered person. allow as a deduction from output tax on outward supply.
ITC of a month = sum(sgst+cgst+igst) on purchase (b2b & urd above 5k in a day)
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