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International Journal for Research Trends and Innovation
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ISSN Approved Journal No: 2456-3315 | Impact factor: 8.14 | ESTD Year: 2016
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| Paper Title: | A STUDY ON INPUT TAX CREDIT (ITC) UNDER GST |
| Authors Name: | PRIYA |
| Download E-Certificate: | Download |
| Author Reg. ID: |
IJRTI_183695
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| Published Paper Id: | IJRTI2208146 |
| Published In: | Volume 7 Issue 8, August-2022 |
| DOI: | |
| Abstract: | Abstract - ITC Forms the basis of Input Tax structure. It simply means the tax paid for buying some Goods /Services can be used to set-off the Indirect Tax Liability at the time of selling of the produces/ services. This Paper highlights the concept of ITC & also availment of ITC in GST. ITC is one of the key features of GOODS and SERVICES TAX. This article deals with the concept of Input Tax Credit(ITC) ,how it can be claimed, what is the maximum time limit and other related question regarding ITC,I have tried to explain the Concept in simple language for better understanding. ITC is an effective mechanism which avoids Cascading of Tax. Cascading of Taxes Simply Means ‘Tax on Tax’. Under the earlier system of taxation, credit of taxes imposed by Central Government is not available for payment of taxes imposed by State Governments and vice versa, But it is possible in present GST system. Input Tax Credit under GST is a credit which is available to suppliers to set off the tax, he has paid on purchase of goods from output tax on sale of such goods. However, ITC avoid double taxation. ITC should be claimed while filling GSTR-3B of the relevant period. Section 16(1) & 16(2) defined eligibility and conditions for taking Input Tax Credit. |
| Keywords: | Keyword - Input Tax Credit, Eligibility& Condition for taking Input Tax Credit section.(16) Utilization of ITC , Restriction on ITC. |
| Cite Article: | "A STUDY ON INPUT TAX CREDIT (ITC) UNDER GST", International Journal for Research Trends and Innovation (www.ijrti.org), ISSN:2455-2631, Vol.7, Issue 8, page no.848 - 852, August-2022, Available :http://www.ijrti.org/papers/IJRTI2208146.pdf |
| Downloads: | 000205309 |
| ISSN: |
2456-3315 | IMPACT FACTOR: 8.14 Calculated By Google Scholar| ESTD YEAR: 2016 An International Scholarly Open Access Journal, Peer-Reviewed, Refereed Journal Impact Factor 8.14 Calculate by Google Scholar and Semantic Scholar | AI-Powered Research Tool, Multidisciplinary, Monthly, Multilanguage Journal Indexing in All Major Database & Metadata, Citation Generator |
| Publication Details: |
Published Paper ID: IJRTI2208146
Registration ID:183695
Published In: Volume 7 Issue 8, August-2022
DOI (Digital Object Identifier):
Page No: 848 - 852 Country: Panipat , Haryana, India Research Area: Commerce Publisher : IJ Publication Published Paper URL : https://www.ijrti.org/viewpaperforall?paper=IJRTI2208146 Published Paper PDF: https://www.ijrti.org/papers/IJRTI2208146 |
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ISSN: 2456-3315
Impact Factor: 8.14 and ISSN APPROVED,
Journal Starting Year (ESTD) : 2016
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