dwike-tax GST

Reconciliation of ITC

ITC claimed by the person has to match with the details specified by his supplier in his GST return. In case of any mismatch, the supplier and recipient would be…
Dwike Team
September 30, 2017
dwike-tax GST

What can be claimed as ITC?

ITC can be claimed only for business purposes. ITC will not be available on goods or services exclusively used for: • Personal use • Exempt supplies • Supplies for which…
Dwike Team
September 30, 2017
dwike-tax GST

What is input tax credit?

Input credit means at the time of paying tax on output, you can reduce the tax you have already paid on inputs and pay the balance amount. Here’s how- When…
Dwike Team
September 30, 2017