i am filing RFD-01A for getting refund of input tax credit. But there is one thing that is "Net Input Tax credit". i can't give proper answer of it so please give me solution from following answers.
1) "Net Input Tax credit"= Total tax paid on inputs...
OR
2) "Net Input Tax credit"= Total tax paid on inputs- total tax collected on outputs.....
which answer is right???
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refund of ITC on export of goods
Replies (3)
Net ITC means input tax credit availed on inputs
and input services during the relevant period;
and input services during the relevant period;
This option 1 will be correct.
option 1, but minus all cesses etc.
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