Input Tax Credit or ITC under GST | Purchase bill | How to claim ITC.
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Input Tax Credit or ITC under GST | Purchase bill | How to claim ITC.
Most people have heard about ITC (Input tax credit) and talk about claiming ITC, but what is this ITC? and why should we claim ITC?. A business can claim the tax paid on its purchases and business expenses as a credit against the tax liability on its sales. This mechanism is known as Input Tax Credit (ITC). When can you claim ITC? 1. Your ...
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