GST ITC availment

RAVINDRA POLANKI (Student CA Final/Tax consultant/) (51 Points)

21 October 2020

availment of ITC and utilisation of itc means????

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3 Replies

JATINDER KUMAR (Accountant) (3662 Points)
Replied 21 October 2020

Availment of ITC - ITC taken but not set off against GST payment

Utilisation of ITC - ITC set off against GST payment

CA. Heet Shah (Tax Consultant & Practitioner) (6180 Points)
Replied 22 October 2020

Originally posted by : RAVINDRA POLANKI
	availment of ITC and utilisation of itc means????

Availment is claiming ITC in gstr-3b

Which then is available for payment of taxes

CA. Heet Shah (Tax Consultant & Practitioner) (6180 Points)
Replied 22 October 2020

When you use the available ITC for tax payment it is said to be utilisation of itc

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