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Input Tax Credit under GST – In a nutshell

One of the most striking changes that the GST rollout has brought is in the mechanism of availing Input Tax Credit. This change is on course to not only eliminate discrepancies but to also push more taxpayers into the tax net. Before understanding the changes done in the mechanism, let’s have an overview of Input Tax credit.  It is the credit a manufacturer receives for paying taxes on the inputs …Read More