Скачать или смотреть Iphone 18% Discount 🤯Busting GST Credit ITC Myth

In this short we try to bust the most common mis concept regarding #gst

Many people think that If they were registered under GST then they could claim the refund of GST credit paid on purchases, However reality is different.

Under GST you can set off your output tax liability against Input tax credit.

Example, Mr. X has turnover of Rs. 1,00,000 in august, 2022 on which 18% GST is payable which will be Rs. 18,000 as output tax liability.
However during the same month Mr. X has made purchases on which ITC worth Rs. 12,000 is accumulated, Now Mr. X is only required to pay Rs. 6,000 as GST to the Government.

If you have any doubt regarding GST or Income Tax connect with us at [email protected] or 8866052889.

https://filetaxonline.in

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