Question

If the reduction in output tax liability claimed by the supplier is more than the corresponding reduction in input tax credit declared by the recipient or if the recipient has not reduced the input tax liability, then

Answer 1

Answer:

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Explanation:

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Answer 2

This mechanism is called utilization of input tax credit. . Tax p ayable on output (FINAL PRODUCT) is Rs 450 b. Ta x paid on input (PURCHASES) is Rs 300 c. You can claim INPUT CREDIT of Rs 300 and you only need to deposit Rs 150 in taxes