What is GST Input Tax Credit? | GST Lingo | #Shorts

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The GST paid on your purchases is called input tax credit. The businesses in India use the abbreviated term 'ITC' for Input Tax Credit. Also, you can deduct the ITC on purchases when you pay tax on sales.

Click on the below link to know more about GST ITC:

For claiming 100% tax credits, every time, try the ClearTax GST software:



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Комментарии
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Just watched this video before 1 minute of the interview
Same question asked me in the interview
Thank god I nailed it 🔥

curiositydiaries
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Can you answer my one question please. I recd GST 2000 Rs. I pay GST 1500 Rs. I rcd by selling Mangoes and paid by purchasing a Computer. It is allowed to pay 500 Gst by deducting ITC 1500.

kingpanthom