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What is ITC and on which goods we can claim it?
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Answer / mihir
ITC = Input Tax Credit.
This relates to the Purchase Tax paid by any dealer or
manufacturer on purchase of Stock in trade or Raw materials
to be used for manufacturing.
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Answer / satendra kumar paswan
ITC = Input Tax Credit.
This relates to the Purchase Tax paid by any dealer or
manufacturer on purchase of Stock within the state of Raw
materials, packing material to be used for manufacturing &
maintinance items which is repairing purpose of production
machineries
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2 Answers Chartered Accountant,
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