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???
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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