Tag Archives: Input tax credit

Input Tax Credit under GST (India)- Process & Conditions

Input Tax Credit under GST Registration for availing Input Tax Credit under GST: 1. The person intending to avail ITC should be Registered taxable person. 2. The supplier of goods and/or supplies in respect of which ITC is intended to be availed has to be registered under IGST or MGST as the case may be.… Read More »

Input Tax Credit under GST

Input Tax Credit  provision of GST Input Tax Credit (ITC) is the core concept of GST as GST is destination based tax. ITC avoids cascading effect of taxes. Meaning of Input Tax Credit under GST Input Tax Credit is eligible only when it is credited to electronic credit ledger of taxable person. “Input tax credit”… Read More »