suppose in the month of July output tax of a trader is less than the input tax then how to compute he is a GST
Answers
Answered by
2
Answer:
Goods and Services Tax (GST) is considered the biggest reforms in India. However, one thing that has become the talking point is – the mechanism of input credit under GST.
In simple words, Input Credit means at the time of paying tax on sales, you can reduce the tax you have already paid on purchases.
In this article, we’ll cover all you need to know about Input Tax Credit (ITC) under GST, the time limit to avail ITC, how to calculate Input Tax Credit, how to claim ITC, the situation where you can not avail ITC and much more.
Plz Mark is a brainalist .......
Similar questions