Sec 2(63) – Input Tax Credit

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Sec 2(63) – Input Tax Credit 2017-04-14T03:42:32+00:00
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  • AdminAdmin
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    #1310 |

    “input tax credit” means the credit of input tax;

    Priya MadrechaPriya Madrecha
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    For a tax to qualify as “input tax credit”, it must first be “input tax”. The law creates a separate terminology for this purpose as all input tax would not qualify as credit. Credit of input tax would be available subject to specific conditions and restrictions, and to specific persons being registered persons.

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