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How to Calculate Input Tax Credit (ITC) under GST?

Calculation of Input Tax Credit In simple words, “Credit on tax can be claimed by a supplier on the output of goods and set off against tax paid earlier on the input of the goods”. The idea is to reduce the cascading effect and lessen the tax burden, ultimately eliminating dual tax payments. Let us, … Read moreHow to Calculate Input Tax Credit (ITC) under GST?