18 September 2012
What is meant by input tax credit....? For ex we are rendering or giving services to our clients then that service tax needs to be paid to govt. And is known as service tax payable.. now when we are paying for a particular service and service tax applicable thereon it will be known as input tax credit or ITC?? Am I right..
18 September 2012
On any kind on Expenses which is debited to books of accounts and on that there is Service tax it is known as Input Tax Credit say on Telephone Expenses the Service tax element
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