ITC KA CONCEPT BTA SKTA H KOI EASY WAY ME

Kanishk · 1 Aug 2024

Input tax credit means when your tax is deducted and when you got itc on tax it will be deducted from your total tax means your tax burden will be reduced by Input tax credit

Sujal · 31 Jul 2024

E.G: Purchased goods -100000 GST @18%-18,000 (Inward supply) now, those goods sold for 1,50,000 GST @18%-27,000 (outward supply) Therefore, Tax on, O/W supply -27000 -i/w supply -18000 Net Tax -9000 Liability the tax on i/w supply is ITC!