Monthly Archives - January 2019

Input tax credit review

Review of Input tax credit

The GST law aims at providing seamless Input tax credit to the registered persons. While the missed ITC could be a loss to an entity, an undue or excess claim of ITC could put an entity to a trap of interest, penalty & litigation. It goes without saying that there could be several errors of understanding, system errors and transactional mistakes around availing, reversing & utilizing input tax credit. It is pertinent for a business to conduct a review [...]

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